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 21: Chairperson, members, officers and other employees of Authority to be public servants.
    The Chairperson, members, officers and other employees of the Authority shall be deemed, when acting or purporting to act in pursuance of any of the provisions of this Act, to be public servants within the meaning of section 21 of the Indian Penal Code (45 of 1860).
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