IRDA (Licensing of Insurance Agents) &(Corporate Agents) (Amendment) Regula

'1~ <!'o t\o 'l(e!o-33004/99 REGD. NO.D. L.-33004/99 9-1 l<cl .;;·. ~li,lq,a ~b~e (Sa~ette of ~-ndiq -'Hll<IHOI EXTRAORDINARY ~III-~ 4· PARTIII-&ction 4 wlftl<I\H fl Q<lil1'ld PUBLISHED BY AUTHORITY ~r. 2031 No. 203] 'If~, qll<'icil<, ~ 9, 2007/~ 17, 1929 NE\\'. DELHI, TUESDAY, OCTOBER 9, 2007/ASVINA 17, 1929 ~ ~.8~,2007 milT t.rf~ 3fir ~ lllftlq,\01 (lill!r ~qif ~) (~) ~. 2007 -q;r, .t. ,it:fl;r;~.V.~/2/39/2007,-~, ~it'11 alf'lf.r:m. 1938 (1938 'Iii 4) "'!ft '!lRI 42 am: 11411:ill<T ]~ H'l1 ,,i;i "ll'Wl 1if;f<I ~. oft'lr <:kll6il,I\ mllflr <fi ~<I'm it "1'11 f~f.t'!l'lil, -,m f<l'l;m ;nf~ (oft'lr alf~ siT ~) f<'!f.r<1,j 2000 'lil~<liB<fiW1'1. A"lf<'lf&d f<'IR'll< 'l'lml t ~ :- 1. (I) ".-! ~'Iii~ "'IT'! oft.,, f'IA'li'l'-li am: fcii.liIB mf~ ('lt'lr ~ail sir ~) Urnt'<A) f<lf.r:ri:r, 2007 t I (2) <I f<W<I; ll;'I> "fqlal(, 2007 it~ mrt I 2 'lt'lr fcif.rwlq:; am: fcii.liIB ;nf~ ('lt'lr ~ 'lil ~) f<lf.r:ri:r, 2000 if - (i) fclA'l'!'f 5 <fi <1q-f'lf1'1'l9 (I) "1<'!> .fr <R" <l''lf "1fi;, it 'iSiR ~" 'Iii ~ -.;,m: "·'l"ffil <R" o"1f "1<'!> it,;)~" ffl I (ii) fclA'l'!'f 5 <fi <1q fqf1'1'l9 ( 1) <fi WNI'! if ""[s'!i .fr ,r,m:r "SR" (!1'1[ "~: it 311o ~" sir e''lf'!11P! -.;>m: "~ <R" <I'll ",;) it 11A <1'<116" ffl I ( iii) fcrf.rli:R 5 <fi <1q fq f1""" ( 2 ) if 'l~" ~ il1<T "'l'i"ITT'I "SR" 4148 Gl/2007 (I) (iv) fqf,i4q9 5 <fi <f'l-f'lf1'1'l9 (2) 'Ii ffi~ if ~".iw<R"~ill<T"t.im·SR"ffl I m.~.~.~ [~-Ill/IV /am!./161/07) INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY NOTIFICATION Hyderabad, the 8th October, 2007 Insurance Regulatory and Developmeat Authority (Licensing of Insurance Agents) (Amendment) Regulations, 2007 F. No. IRDA/Reg./2/39/2007.-ln exercise of the powers conferred by Section 42 and Section 114A of the Insurance Act, 1938 (4 of 1938), the Authority, in consultation with the Insurance Advisory Committee, hereby makes the following regulations to amend the Insurance 8.egulatory and Development Authority (Licensing of Insurance Agents) Regulations, 2000, namely:- !. (I) These reglilations may be called tbe Insur- ance Regulatory and Development Authority (Licensing of Insurance Agents) (Amend- ment) Regulations, 2007. (2) · They shall come into force with effect from lstNovember,2007. 2. In the Insurance Regulatory and Development Authority (Licensing of Insurance Agents) Regula- tions, 2000-,- . (i) In sub-reglilation (I) of Regulation 5 the words, "one hundred hours" and "three to four weeks" shall be substituted by the words "fifty hours" and "one to two weeks" reipectively. 2 THE GAZETTE OF INDIA: EXTRAORDINARY ==cl=========s============= [PART III-SEC, 4] (u) In the proviso to sub-regulation (l~ofRegu- lation 5, the words, "one hundred fifty hours" and "six to eight weeks" shall be sub- .stituted by the words, "seventy five hours" and ''two to three weeks" respectively. (iiJ) In sub-regulation (2) of Regulation 5 the words, "fifty hours" shall be substituted by the words, "twenty five hours". (iv) In the proviso to sub-regulation (2) of Regu- lation 5, the words, "seventy hours'' shall be substituted by the words, "thirty five hours". C. S. RAO, Chainnan [ADVT. Ill/JV /Exty. /161/07] ~ ~.8~,2007 ~f.,4w., 3th-mm~ cf.rrrtl:ra ·...r~)(~)~,2007 "· lit:flf.~.V.~/3/40/2007.-mf'l'li1"T, oWll :ilfl , 1938 ( I 938 <lil 4) <Ii\ '1TU 42 ai\i: !ffiJ 42 1ST <li\o'!-'TTU (2)-.tm (c) ,(o) ,(',a) ,(<Z) ,(irr)ai\i: ~ ~ <lil ,!'WT q;m il;1l:, oWll '1<!1Whl\ 'lmM <l f.,"lf<'lf©a fc!f.rcr'! = t ;aft oWll -~ ai\i: m;m 'lllf~ (R'ffera 3lf,,.;a\311 <lil ~ ~, 2002, <lil ffl'l'! 3'!'1Rl t :- ]. ( I ) .-, m-<r<lT <lil W8;!'<1 "1'! oWll fq f1 'I I q '1i ai\i: m;m ,rrf~ ( f.,,ffera 3lf'l'nll!aif <lil ~) (ffl'l'!) fc!f.r.l,i, 2007 t I (2) <!~1l_q;"'!qlaf{, 2007 <l~ifit I 2. 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'll1'NR if ~ "t!W "R:" <lil ~ "~ "R:0 irn I m.~.~.~ [ffi11'11-III/IV /3!'1!./161/07] NOTIFlCA'.IlION Hyderabad, the ~th Qctober, 2007 Insurance Regulatory and D•velopment Authority (Licensing of Corporate A!l<nts) (Amendment) Regulations,:2007 F. No. IRDA/Reg./3/40/2P07.-ln exercise of the powers conferred by Section 412 and section 42D and clauses (k), (]), (m), (n), ( o) and'(p) of sub-section (2) of Section 114A of the Insurance Af:t, 1938 (4 of 1938), the Authority, in consultation with ,the Insurance Advisory Committee, hereby makes the following regulations to amend the Insurance Regulatory and Development Authority (Licensing of Corpor4te Agents) Regulations, 2002, namely :-~ I. (I) These regulations inay be called the Insur- ance Regulatory rujd Development Author- ity (Licensing of In~ance Agents) (Amend- ment) Regulations, ?007. (2) They shall come inlo force with effect from !st November, 2007, 2. In the Insurance Regul/ltory and Development Authority (Licensing of Corporate Agents) Regulations, 2002- (i) In sub-regulation (I) of Regulation 5, the words, "one hundred hours" apd "three to four weeks" shall be substituted b)! the words "fifty hours" and "one to two week$" respectively. (ri) In the proviso to sub.regulation (I) of Regula- tion 5, the words, "one hundred fifty hours" and "six to eight weelq" shall be substituted by the words, "seventy five hours" and "two to three weeks" respecti✓ely. (iii) In sub-regulation (2) of Regulation 5, the words, "fifty hours" shall be substituted by the words, "twenty five hours". (iv) In the proviso to sub-regulation (2) of Regula- tion 5; the words, "seventy hours" shall be sub- stituted by the words, t'thirty five hours". (v) In sub-regulation(3) of Regulation 5, the words "not less than 100 hol!rs", "not less than 150 hours" and "completed fifty hours" shall be substitued by the words, "not less than 50 hours", "not less tha11- 75 hours" and "com- pleted twenty five hours" respectively. (vi) In the proviso to_sub-regulation (3) of Regula-. tion 5, the words, "seventy hours" shall be sub- stituted by the words "thirty five hours". C. S. RAO, Chainnan [ADVT. Ill/IV /Exty./161/07] Printed by the Manager, Govt of India Press, Ring Road. Mayapuri, l\ew Delhi-110064 and Published by the Controller of Publications, Delhi-110054.