Section 23
Delegation of powers.
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.
(1) The Authority may, by general or special order in writing, delegate
to the Chairperson or any other member or officer of the Authority subject to such conditions, if any, as
may be specified in the order, such of its powers and functions under this Act as it may deem necessary.
(2) The Authority may, by a general or special order in writing, also form committees of the members and delegate to them the powers and functions of the Authority as may be specified by the regulations.
(2) The Authority may, by a general or special order in writing, also form committees of the members and delegate to them the powers and functions of the Authority as may be specified by the regulations.