IRDAI (Insurance Brokers) (First Amendment) Regulations, 2018

~ '"fro ~o ~o-33004/99 REGD. NO. D. L.-33004/99 ~l<cl cihl ([:he <5aLette of Jndia -«. 22] No. 22] EXTRAORDINARY 'q11Jfil-~4 PART III-Section 4 ffl4iH 'ii gq:i1n.1a PUBLISHED BY AUTHORITY ~ ~. ~. ~ 25, 2019/lml' s, 1940 NEW DELHI, FRIDAY, JANUARY 25, 2019/MAGHA 5, 1940 ~ ~ fel f.l411-li:fi 3lR ~ ~ ~ ~ oo Fcl f.l 4 ,'l cf> 31h:: mm~ <oo ~> <~ "ftJ?rra.:r> Fcl f.l 4 'l, 2018 "Cfil."ff. m.~.f<t.f<t:srr.1Fclf.l4'l/2/153/2019.-00 Fclf.l41'lcf> 3il1: mm~~. 1999 ( 1999 cfif 41) #t ITTU3IT 14 3f11: 26 t fil:ef qf3a ~ ~. 1938 ( 1938 cfif 4) #t ITTU3IT 42-ft, 42f 3f11: 114~ ITTU ~ l?ITTfi<.11 cfif ~ m ~. ~ ~ ID"\I f.lt1G!Rla Fclf.l4'l ~ ~. ~ :- 1. Fcl f.l 4¥11 cfif ~ ifflf 31h:: ~= (cfl) ii" Fcl f.l 4 'l ~ ofti:n Pel f.l 41 'l if> ~ mm ~ (oo ~) (~ "ft!ilhr;,) Fcl f.l 4 'l, 2018 t ifflf "ft ;:;rR ~I ("©") 7-l fcl f.l 4 'l ~ m if~ >lcfif!/R #t -aTW cfTT" ~ ~I 2. ~~I f"clf.l4i'lcf> <littmm~ (00~) fcrf.:t<nr, 2018 if cfl) ~ II - l:fll1f 3lR (Fclf.l4'l 20(2) ~) - ITT!lft m!lm ITTU mft-a- ~ t:>ft" t qf{cf,<,ti-j cfif -aftcfif - m ( 1 )("©")(ii)(ii) if "fq il cf,,co1 •· t 3fd'lTh f.l t1 GI Rl a ~ ~ ~ ''qf!rff frt arvrer, arrfarrdt[[arrf r:rrfi:Rft~ it ~ ath- eftRT e°''3f" efFJ- ~ rt!: ath- /wim" cfiT 87ffef fflft P[, T7T-eftct- ath- ~ it aref/.:r, m«mr ~ it cfiTTrfi- arfitf.:t-"lf1{", 2013 efFl-i3Vffe,; mv- -if ~~~~ cfiTTrfi- Ff "ff/#" efFJ- !!Tff -if W ~ m ft" 494 GI/2019 (1) if. ~ "ffi. ~3TT, 3fPR-T [Fcl ~ i 9.-J-III/4/3fm./498/18]       2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III-SEC4] INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 21st January, 2019 Insurance Regulatory and Development Authority of India (Insurance Brokers) (First Amendment) Regulations, 2018 F. No. IRDAI/Reg/2/153/2019.- In exercise of the powers conferred by sections 42D, 42E and 114A of the Insurance Act, 1938 ( 4 of 1938) read with sections 14 and 26 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Authority hereby makes the following regulations, namely: - 1. Short Title and Commencement of the Regulations: a) These Regulations may be called the Insurance Regulatory and Development Authority of India (Insurance Brokers) (First Amendment) Regulations, 2018. b) They shall come into force on the date of publication in the official gazette. 2. In Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2018 a) Schedule II - Form R [see Regulation 20(2)] - Manner of calculation of equity capital held by foreign investors - Insert the following proviso under "Explanation" in clause (l)(b)(ii) (ii) "Provided the Chainnan, IRDAI may relax the condition of the Indian promoter not being a subsidiary company as defined in the above section of the Companies Act, 2013 subject to merits and conditions, considering the interest of the policyholders and overall growth and development of the insurance sector. " Dr. SUBHASH C. KHUNTIA, Chairman [ADVT. III/4/Exty/498/18] Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.