Act Number: 41

Act Name: The Insurance Regulatory and Development Authority Act, 1999

Year: 1999

Enactment Date: 1999-12-29

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 11: Vacancies, etc., not to invalidate proceedings of Authority.
    No act or proceeding of the Authority shall be invalid merely by reason of--
         (a) any vacancy in, or any defect in the constitution of, the Authority; or
         (b) any defect in the appointment of a person acting as a member of the Authority; or
         (c) any irregularity in the procedure of the Authority not affecting the merits of the case.
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