Section 15
Grants by Central Government.
The Insurance Regulatory and Development Authority Act, 1999
About this Act
An Act to provide for the establishment of an Authority to protect the interests of holders of insurance policies, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto and further to amend the Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and the General Insurance Business (Nationalisation) Act, 1972.
The Central Government may, after due appropriation made
by Parliament by law in this behalf, make to the Authority grants of such sums of money as the
Government may think fit for being utilised for the purposes of this Act.