Executive Summary:
This document outlines the Insurance Regulatory and Development Authority of India's (IRDAI) regulations regarding inspection and fees for supplying copies of returns. These regulations, titled "Insurance Regulatory and Development Authority of India Inspection and Fee for Supply of Copies of Returns Regulations, 2015," come into force from the date of their publication in the official gazette. It specifies procedures for obtaining copies of returns and the associated fees, and also addresses the supply of memorandum and articles of association by insurers.
Key Points / Main Content:
Inspection of Returns:
* Any person can apply in writing to the Authority's Head Office to inspect any return under Section 20 1 of the Insurance Act, 1938.
* Inspection of returns is free of charge.
* The Authority will indicate a date for inspection within 30 working days of receiving the application.
Supply of Copy of Return:
* Any person can apply in writing to the Authority's Head Office for a copy of any return under Section 20 1 of the Insurance Act, 1938.
* Fees for copies of returns are: Rs. 100 per page in physical form, Rs. 75 per page in electronic form.
* Fees can be paid via cash, demand draft, banker's cheque, or electronic fund transfer.
* The Authority must furnish a copy of the return within 30 working days of receiving the applicable fee.
Supply of Memorandum and Articles of Association by Insurer:
* A policyholder can apply in writing to the insurer's Corporate Office for a copy of the memorandum and articles of association under Section 20 3 of the Insurance Act, 1938.
* Fees for copies of memorandum and articles of association are: Rs. 100 per page in physical form, Rs. 75 per page in electronic form.
* Fees can be paid via cash, demand draft, banker's cheque, or electronic fund transfer.
* The insurer must furnish a copy of the memorandum and articles of association within 30 working days of receiving the applicable fee.
Other Provisions:
* The Chairperson of the Authority may issue clarifications or guidelines to remove difficulties in the application or interpretation of these regulations.
Impact Analysis:
Persons Seeking to Inspect/Obtain Returns:
* Impact: Must adhere to the application process, including written requests and fee payments (if applicable), to access returns or their copies.
* Action Required: Submit written applications to the Authority's Head Office and pay the prescribed fees for copies of returns.
Insurers:
* Impact: Must provide copies of the memorandum and articles of association to policyholders upon request and payment of fees.
* Action Required: Establish procedures for receiving applications and fees, and for providing copies of the memorandum and articles of association within the stipulated timeframe.
Insurance Regulatory and Development Authority of India (IRDAI):
* Impact: Responsible for processing inspection requests, providing access to returns, and supplying copies of returns in a timely manner.
* Action Required: Establish procedures for receiving and processing applications, scheduling inspections, calculating and collecting fees, and providing copies of returns within the specified timeframes.
Key Entities Referenced
Insurance Act, 1938: A foundational law related to insurance in India, referenced in the context of regulations and powers conferred.
Insurance Regulatory and Development Authority Act, 1999: An act establishing the Insurance Regulatory and Development Authority of India and defining its powers.
Insurance Regulatory and Development Authority of India: The regulatory body for the insurance industry in India, responsible for making and enforcing regulations.
Insurance Advisory Committee: A committee consulted by the Insurance Regulatory and Development Authority of India in the process of making regulations.
Hyderabad, Telangana: The city where the Insurance Regulatory and Development Authority of India notification was issued.
Insurance Regulatory and Development Authority of India Inspection and Fee for Supply of Copies of Returns Regulations, 2015: The specific regulations being introduced, concerning inspection of returns and fees for copies.
T. S. Vijayan: The Chairman of the Insurance Regulatory and Development Authority of India, who approved the regulations.
New Delhi, Delhi: Location of printing and publication by Government of India Press.
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EXTRAORDINARY
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PART III—Section 4
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No. 72] NEW DELHI, FRIDAY, FEBRUARY 19, 2016/ MAGHA 30, 1937
भभभभााााररररततततीीीीयययय बबबबीीीीममममाााा ििििववववििििननननययययााााममममकककक औऔऔऔरररर ििििववववककककाााासससस (cid:1)(cid:1)(cid:1)(cid:1)ााााििििधधधधककककररररणणणण
अअअअििििधधधधससससचचूूचचूू ननननाााा
हदै राबाद, 17 फरवरी, 2016
भभभभााााररररततततीीीीयययय बबबबीीीीममममाााा ििििववववििििननननययययााााममममकककक औऔऔऔरररर ििििववववककककाााासससस (cid:1)(cid:1)(cid:1)(cid:1)ााााििििधधधधककककररररणणणण
((((ििििववववववववररररििििणणणणयययय(cid:10)(cid:10)(cid:10)(cid:10) ककककाााा ििििननननररररीीीी(cid:13)(cid:13)(cid:13)(cid:13)णणणण औऔऔऔरररर (cid:1)(cid:1)(cid:1)(cid:1)ििििततततयययय(cid:10)(cid:10)(cid:10)(cid:10) कककक(cid:15)(cid:15)(cid:15)(cid:15) आआआआपपपप(cid:19)(cid:19)ूू(cid:19)(cid:19)ूू तततत ककककेेेे ििििललललएएएए शशशशु(cid:22)ु(cid:22)ु(cid:22)ु(cid:22)कककक)))) ििििववववििििननननययययमममम,,,, 2222000011115555
फफफफाााा.... सससस..ंं..ंं भभभभाााा....बबबबीीीी....ििििवववव....ििििवववव....(cid:1)(cid:1)(cid:1)(cid:1)ाााा....//// ििििववववििििननननययययमममम////2222////111111114444////2222000011116666.— बीमा अिधिनयम, 1938 क(cid:2) (cid:3)मशः धारा 20(1) और
धारा 20(3) के साथ प(cid:8)ठत धारा 114 ए(2)(एच) और (ज़ैडडी) तथा बीमा िविनयामक और िवकास (cid:11)ािधकरण
अिधिनयम, 1999 क(cid:2) धारा 26 (cid:17)ारा (cid:11)द(cid:19) शि(cid:20)य(cid:22) का (cid:11)योग करत े (cid:25)ए (cid:11)ािधकरण, बीमा सलाहकार सिमित के
साथ परामश(cid:27) करन े के बाद, इसके (cid:17)ारा िन(cid:29)िलिखत िविनयम बनाता ह,ै अथा(cid:27)त:् -
1111.... ससससििंंििंं (cid:13)(cid:13)(cid:13)(cid:13)(cid:25)(cid:25)(cid:25)(cid:25) ननननाााामममम औऔऔऔरररर (cid:1)(cid:1)(cid:1)(cid:1)ााााररररंंंंभभभभ
(1) ये िविनयम भारतीय बीमा िविनयामक और िवकास (cid:11)ािधकरण (िववरिणय(cid:22) का िनरी$ण और (cid:11)ितय(cid:22) क(cid:2)
आपू’त के िलए शु)क) िविनयम, 2015 के नाम से जाने जाएगँ े।
(2) ये िविनयम सरकारी राजप+ म , इनके (cid:11)काशन क(cid:2) तारीख स े (cid:11)वृ(cid:19) ह(cid:22)गे।
2222.... पपपप(cid:27)(cid:27)(cid:27)(cid:27)ररररभभभभााााषषषषााााएएएए ँँँँ
(1) इन िविनयम(cid:22) म, जब तक संदभ(cid:27) से अ4यथा अपेि$त न हो, -
(क) "अिधिनयम" स े बीमा अिधिनयम, 1938 (1938 का 4) अिभ(cid:11)ेत ह;ै
848 GI/2016 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III —SEC. 4]
(ख) "(cid:11)ािधकरण" स े बीमा िविनयामक और िवकास (cid:11)ािधकरण अिधिनयम, 1999 (1999 का 41) क(cid:2)
धारा 3 क(cid:2) उप-धारा (1) के अधीन 5थािपत भारतीय बीमा िविनयामक और िवकास (cid:11)ािधकरण
अिभ(cid:11)ेत ह;ै
(ग) "िनरी$ण" स े (cid:11)ािधकरण को (cid:11)5तुत क(cid:2) गई िववरिणय(cid:22) अथवा उनक(cid:2) (cid:11)मािणत (cid:11)ित का
िनरी$ण अिभ(cid:11)ेत ह।ै
(घ) "िववरणी" स े एक समान आविधकता के अंतग(cid:27)त भौितक और/ या इलै9:ॉिनक <प म, (cid:11)ािधकरण
को िविनयिमत स5ं था= (cid:17)ारा (cid:11)5तुत >कये जान े के िलए अिधदशे ा?मक क(cid:2) गई िव(cid:19)ीय अथवा
अ4य (cid:11)कार क(cid:2) कोई सूचना, साम@ी, डेटा अथवा िववरण अिभ(cid:11)ेत ह ै चाह े वह मािसक हो या
ितमाही, छमाही, अथवा वा’षक, एव ं िजसका (cid:11)कटीकरण >फलहाल (cid:11)चिलत >कसी िविध (cid:17)ारा
बािधत या छूट-(cid:11)ाE न हो, परंत ुइसम, िविशF िविनयामक (cid:11)योजन(cid:22), जैसे >क Hावसाियक अथवा
अ4वेषण-सबं ंधी (cid:11)योजन(cid:22) के िलए (cid:11)ािधकरण (cid:17)ारा माँगी गई सूचना, साम@ी, डेटा अथवा
िववरण सिIमिलत नहJ ह(cid:22)गे।
बबबबशशशशतततत !!!!कककक यह िनधा(cid:27)रण >क 9या >कसी िववरणी म , िनिहत सूचना का (cid:11)कटीकरण कानून के अंतग(cid:27)त (cid:11)द(cid:19)
उपयु(cid:27)(cid:20) अपवज(cid:27)न(cid:22) और छूट(cid:22) के अंतगत(cid:27) आता ह ै अथवा नहJ, इस (cid:11)योजन के िलए (cid:11)ािधकरण के
अLय$ (cid:17)ारा ग(cid:8)ठत एक सिमित (cid:17)ारा >कया जाएगा।
(2) इन िविनयम(cid:22) म , (cid:11)यु(cid:20) और अप(cid:8)रभािषत, परंत ु बीमा अिधिनयम, 1938 (1938 का 4), अथवा
बीमा िविनयामक और िवकास (cid:11)ािधकरण अिधिनयम 1999 (1999 का 41) अथवा उनके अधीन
बनाय े गय े िनयम(cid:22) अथवा िविनयम(cid:22) म , प(cid:8)रभािषत शMद(cid:22) और अिभHि(cid:20)य(cid:22) के अथ (cid:27) वही ह(cid:22)गे जो
उन अिधिनयम(cid:22), िनयम(cid:22) अथवा िविनयम(cid:22) म , (cid:3)मशः उनके िलए िनधा(cid:27)(cid:8)रत >कये गये ह।N
3333.... ििििववववववववररररणणणणीीीी ककककाााा ििििननननररररीीीी(cid:13)(cid:13)(cid:13)(cid:13)णणणण
(1) अिधिनयम क(cid:2) धारा 20(1) के अधीन >कसी िववरणी के िनरी$ण क(cid:2) अपे$ा करन े वाला कोई Hि(cid:20)
िलिखत म , (cid:11)ािधकरण को आवेदन (cid:11)5तुत करेगा तथा उ(cid:20) आवेदन (cid:11)ािधकरण के (cid:11)धान काया(cid:27)लय को (cid:11)ेिषत
करेगा।
(2) >कसी भी िववरणी के िनरी$ण के िलए कोई शु)क नहJ होगा।
(3) (cid:11)ािधकरण उ(cid:20) आवेदन के (cid:11)ाE होने पर वह तारीख िनOदF करेगा जब उ(cid:20) Hि(cid:20) (cid:11)ािधकरण के काया(cid:27)लय
प(cid:8)रसर म , िववरणी का िनरी$ण कर सकता ह।ै
बबबबशशशशतततत !!!!कककक ऐसी तारीख उ(cid:20) आवेदन क(cid:2) (cid:11)ािE क(cid:2) तारीख स े30 काय(cid:27)->दवस(cid:22) के बाद नहJ होगी।
4444.... ििििववववववववररररणणणणीीीी कककक(cid:15)(cid:15)(cid:15)(cid:15) (cid:1)(cid:1)(cid:1)(cid:1)िििितततत कककक(cid:15)(cid:15)(cid:15)(cid:15) आआआआपपपप(cid:19)(cid:19)ूू(cid:19)(cid:19)ूू तततत
(1) अिधिनयम क(cid:2) धारा 20(1) के अधीन >कसी िववरणी क(cid:2) (cid:11)ित क(cid:2) अपे$ा करन े वाला कोई Hि(cid:20) िलिखत
म , (cid:11)ािधकरण को आवेदन (cid:11)5तुत करेगा तथा उ(cid:20) आवेदन (cid:11)ािधकरण के (cid:11)धान काया(cid:27)लय को (cid:11)ेिषत करेगा।
(2) धारा 20(1) के अधीन िववरणी क(cid:2) (cid:11)ित उपलMध करान े के िलए शु)क िन(cid:29)िलिखत दर से (cid:11)भा(cid:8)रत >कया
जाएगाः
भौितक <प म, उसके (cid:11)?येक पृQ अथवा उसके भाग के िलए केवल एक सौ Rपय े (100/- Rपये) तथा
इलै9:ॉिनक <प म , (cid:11)?येक पृQ के िलए केवल पचह(cid:19)र Rपये (75/- Rपय)े ।¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 3
(3) उ(cid:20) शु)क नकद भुगतान (cid:17)ारा अथवा "भारतीय बीमा िविनयामक और िवकास (cid:11)ािधकरण" के नाम
माँग SाTट (डीडी) अथवा बNकर चेक के (cid:17)ारा अदा >कया जाएगा अथवा इलै9:ॉिनक िनिध अंतरण के
माLयम से भारतीय बीमा िविनयामक और िवकास (cid:11)ािधकरण के खाते म, अंत(cid:8)रत >कया जाएगा।
(4) (cid:11)ािधकरण लाग ूशु)क क(cid:2) (cid:11)ािE क(cid:2) तारीख से 30 काय-(cid:27) >दवस(cid:22) के अंदर िववरणी क(cid:2) (cid:11)ित (cid:11)ेिषत करेगा।
5555.... बबबबीीीीममममााााककककतततताााा #### $$$$ाााारररराााा सससस%%ंं%%ंं थथथथाााा ककककेेेे बबबबििििहहहह(cid:19)(cid:19)(cid:19)(cid:19)ननननययययमममम(cid:10)(cid:10)(cid:10)(cid:10) औऔऔऔरररर अअअअततंंततंं (cid:19)(cid:19)(cid:19)(cid:19)ननननययययमममम(cid:10)(cid:10)(cid:10)(cid:10) ((((ममममेमेमेमेमोोोोररररैैैै,,,,डडडडमममम एएएए,,,,डडडड आआआआ....टटटटकककक(cid:22)(cid:22)(cid:22)(cid:22)सससस ऑऑऑऑफ़फ़फ़फ़ एएएएससससोोोोििििससससययययशशेेशशेे नननन)))) कककक(cid:15)(cid:15)(cid:15)(cid:15)
(cid:1)(cid:1)(cid:1)(cid:1)िििितततत कककक(cid:15)(cid:15)(cid:15)(cid:15) आआआआपपपप(cid:19)(cid:19)ूू(cid:19)(cid:19)ूू तततत
(1) अिधिनयम क(cid:2) धारा 20(3) के अधीन स5ं था के बिह’नयम(cid:22) और अंत’नयम(cid:22) क(cid:2) (cid:11)ित क(cid:2) अपे$ा करने वाला
>कसी बीमाकता (cid:27)का पॉिलसीधारक िलिखत म, बीमाकता (cid:27) के कॉरपोरेट काया(cid:27)लय को आवेदन (cid:11)5तुत करेगा।
(2) धारा 20(3) के अधीन स5ं था के बिह’नयम(cid:22) और अंत’नयम(cid:22) क(cid:2) (cid:11)ित उपलMध कराने के िलए िन(cid:29)िलिखत
दर स े शु)क (cid:11)भा(cid:8)रत >कया जाएगाः
भौितक <प म , (cid:11)?येक पृQ अथवा उसके भाग के िलए केवल एक सौ Rपय े (100/- Rपय)े तथा इलै9:ॉिनक
<प म , (cid:11)?येक पृQ के िलए केवल पचह(cid:19)र Rपये (75/- Rपये)।
(3) उ(cid:20) शु)क नकद भगु तान (cid:17)ारा अथवा बीमाकता (cid:27) के नाम माँग SाTट (डीडी) अथवा बNकर चेक के (cid:17)ारा अदा
>कया जाएगा अथवा इलै9:ॉिनक िनिध अंतरण के माLयम से बीमाकता (cid:27) के खाते म , अंत(cid:8)रत >कया जाएगा।
(4) बीमाकता (cid:27) लागू शु)क क(cid:2) (cid:11)ािE क(cid:2) तारीख से 30 काय(cid:27)->दवस(cid:22) के अंदर स5ं था के बिह’नयम(cid:22) और
अंत’नयम(cid:22) क(cid:2) (cid:11)ित (cid:11)ेिषत करेगा।
6666.... कककक(cid:27)(cid:27)(cid:27)(cid:27)ठठठठननननााााइइइइययययाााा ँँ ँँददददररररूूूू ककककररररनननन ेे ेेऔऔऔऔरररर %%%%पपपप2222ीीीीककककररररणणणण जजजजााााररररीीीी ककककररररनननन ेे ेेककककाााा अअअअििििधधधधककककाााारररर
इन िविनयम(cid:22) के >कसी भी उपबंध को लाग ू करन े अथवा उसका अथ(cid:27)िनण(cid:27)य करन े म, उ?पV होने वाली >कसी भी
शंका अथवा क(cid:8)ठनाई को दरू करन े के िलए (cid:11)ािधकरण का अLय$ आवXयक समझे जाने वाल े उपयु(cid:20) 5पFीकरण
अथवा >दशािनदशY जारी कर सकता ह।ै
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[िवZापन-III/4/असा./161/(373)]
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
NOTIFICATION
Hyderabad, the 17th February, 2016
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA (INSPECTION AND FEE
FOR SUPPLY OF COPIES OF RETURNS) REGULATIONS, 2015
F. No. IRDAI/Reg/2/114/2016..—In exercise of the powers conferred by section 114 A(2) (h) and
(zd) read with Section 20(1) and Section 20 (3) respectively of the Insurance Act 1938 and Section
26 of Insurance Regulatory and Development Authority Act, 1999, the Authority, in consultation
with the Insurance Advisory Committee, hereby makes the following regulations, namely:—
1. Short title and commencement
(1) These Regulations may be called Insurance Regulatory and Development Authority of India (Inspection and Fee for
Supply of Copies of Returns) Regulations, 2015.
(2) They shall come into force from the date of publication in the official gazette.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III —SEC. 4]
2. Definitions
(1) In these regulations, unless the context requires otherwise—
(a) “Act” means the Insurance Act, 1938 (4 of 1938);
(b) “Authority” means the Insurance Regulatory and Development Authority of India established
under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999
(41 of 1999);
(c) “Inspection” means inspection of returns or their certified copy thereof submitted to the Authority.
(d) “Return” means any information, material, data or statement, financial or otherwise mandated to
be submitted by the regulated entities to the Authority in physical and/or electronic form in uniform
periodicity, whether monthly, quarterly, half yearly, or annually and the disclosure of which is not
barred or exempted by any law for the time being in force but shall not include the information,
material, data or statements called for by the Authority for specific regulatory purposes, such as
business or investigative purposes:
Provided that the evaluation of whether the disclosure of information contained in a return falls within the
above exclusions and exemptions provided under law shall be done by a Committee constituted by the
Chairperson of the Authority for this purpose.
(2) All words and expressions used herein and not defined but defined in the Insurance Act, 1938 (4 of
1938), or in the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999) or in any Rules or
Regulations made there under shall have the meanings respectively assigned to them in those Acts or Rules or
Regulations.
3. Inspection of return
(1) Any person seeking inspection of any return under Section 20 (1) of the Act, shall make an
application to the Authority in writing and send the same to the Head office of the Authority.
(2) There shall be no fee for inspection of any return.
(3) The Authority, on receipt of the application, shall indicate a date on which the person can inspect the
return at the office premises of the Authority.
Provided that such date shall not be beyond 30 working days from the date of receipt of the
application
4. Supply of Copy of return
(1) Any person seeking a copy of any return under Section 20 (1) of the Act, shall make an application to
the Authority in writing and send the same to the Head office of the Authority
(2) For providing copy of the return under Section 20 (1), the fee shall be charged at the following rate:
rupees One hundred only (Rs.100/-) for each page or part thereof in physical form and rupees Seventy
five (Rs. 75/-) per page in electronic form.
(3) The fee shall be paid by way of cash or by way of a demand draft or banker’s cheque in favour of the
“Insurance Regulatory and Development Authority of India” or transferred to the account of
Insurance Regulatory and Development Authority of India through electronic fund transfer.
(4) The Authority shall furnish a copy of the return within 30 working days from the date of receipt of the
applicable fee.
5. Supply of a copy of Memorandum and articles of association by the insurer
(1) A policyholder of an insurer seeking a copy of memorandum and articles of association under Section
20 (3) of the Act, shall make an application to Corporate Office of the insurer in writing.
(2) For providing copy of the Memorandum and articles of association under Section 20 (3), the fee shall
be charged at the following rate:
rupees One hundred only (Rs.100/-) for each page or part thereof in physical form and rupees Seventy
five (Rs. 75/-) per page in electronic form.¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 5
(3) The fee shall be paid by way of cash or by way of a demand draft or banker’s cheque in favour of the
insurer or transferred to the account of the insurer through electronic fund transfer.
(4) The insurer shall furnish a copy of the memorandum and articles of association within 30 working
days from the date of receipt of the applicable fee.
6. Power to remove difficulties and issue clarifications
In order to remove any doubts or the difficulties that may arise in the application or interpretation of any of
the provisions of these regulations, the Chairperson of the Authority may issue appropriate
clarifications or guidelines as deemed necessary.
T. S. VIJAYAN, Chairman
[ADVT. III /4/Exty/161/373]
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