Obligation of insurer in respect of insurance business in third party risks of motor vehicles.

    ¹[32D. Obligation of insurer in respect of insurance business in third party risks of motor vehicles. -- Every insurer carrying on general insurance business shall, after the commencement of the Insurance Laws (Amendment) Act, 2015 (5 of 2015), underwrite such minimum percentage of insurance business in third party risks of motor vehicles as may be specified by the regulations:
    Provided that the Authority may, by regulations, exempt any insurer who is primarily engaged in the business of health, re-insurance, agriculture, export credit guarantee, from the application of this section.]