Section 9
Restrictions on carrying on of certain insurance business. Repealed
The Emergency Risks (Goods) Insurance Act, 1971
About this Act
An Act to make certain provisions for the insurance of goods in India against damage arising from emergency risks and matters connected therewith or incidental thereto.
(1) After the date on which the
Scheme is put into operation, no person shall, except as a person authorised by the Central Government as
its agent to issue policies in pursuance of the Scheme, carry on any business of insuring persons carrying
on business in India as sellers or suppliers of goods against emergency risks in respect of goods insurable
under this Act which are from time to time owned by such persons in the course of such business as is last
mentioned.
(2) Whoever contravenes the provisions of sub-section (1) shall be punishable with fine which may extend to five thousand rupees and with further fine which may extend to one thousand rupees for every day after the first on which the contravention continues.
(2) Whoever contravenes the provisions of sub-section (1) shall be punishable with fine which may extend to five thousand rupees and with further fine which may extend to one thousand rupees for every day after the first on which the contravention continues.