Section 53, Actuaries Act, 2006 [S23-0RT]
As at 24 July 2006. In force from 24 July 2006.
53. Registration of insurances intermediary.—(1) Every insurance intermediary shall, within sixty days from the commencement of this Act or, where such person begins the business of an insurance intermediary after such commencement, within sixty days from the date of such beginning, make an application for registration to the Authority in Form IRDA-3, accompanied by a fee of fifty thousand rupees. (2) The Authority shall, on being satisfied that the application is in order, register the applicant and issue a certificate of registration in such form as may be prescribed. (3) No insurance intermediary shall carry on the business of an insurance intermediary unless registered under this section.
Defined terms in this text (2)
Authority: Section 2, Actuaries Act, 2006 [S22Z5Y] (In this Act, unless the context otherwise requires,—): "Authority" means the Insurance Regulatory and Development Authority of India established under section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999)
Authority: 22 more definitions.
intermediary: Section 2, Actuaries Act, 2006 [S22Z5Y] (In this Act, unless the context otherwise requires,—): "intermediary" includes insurance brokers, re-insurance brokers, insurance consultants, corporate agents, third party administrators, surveyors and loss assessors
intermediary: 25 more definitions.
Made under this section, or naming it (0)
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Cited by (2)
Section 2, Actuaries Act (Amendment) Act, 2011 [S25-PVV], 1 February 2011, Band A. "section 53 of the Actuaries Act, 2006 (35 of 2006)".
Section 2, Actuaries Act (Amendment) Act, 2023 [S2B-MS8], 23 June 2023, Band A. "section 53 of the Actuaries Act, 2006 (35 of 2006)".
Not held (0)
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Duties published under this section (0)
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