Section 34: Power of the Authority to issue directions.

The Insurance Act, 1938Central Act · Act 4 of 1938

[34. Power of the [Authority] to issue directions. --(1) Where the [Authority] is satisfied that--

(a) in the public interest; or

(b) to prevent the affairs of any insurer being conducted in a manner detrimental to the interests of the policy-holders or in a manner prejudicial to the interests of the insurer; or

it is necessary to issue directions to insurers generally or to any insurer in particular, he may, from time to time, issue such directions as he deems fit, and the insurers or the insurer, as the case may be, shall be bound to comply with such directions:

Provided that no such direction shall be issued to any insurer in particular unless such insurer has been given a reasonable opportunity of being heard.

(2) The [Authority] may, on representation made to him or on his own motion, modify or cancel any direction issued under sub-section (1), and in so modifying or cancelling any direction, may impose such conditions as he thinks fit, subject to which the modification or cancellation shall have effect.]

Where this provision sits

Act	The Insurance Act, 1938
Section	34
Marginal note	Power of the Authority to issue directions.
Jurisdiction	Central
Status	In force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

inserted, Act 62 of 1968. . Ins. by Act 62 of 1968, s. 16 (w.e.f. 1-6-1969).
substituted, Act 41 of 1999. . Subs. by Act 41 of 1999, s. 30 and the First Schedule, for "Controller" (w.e.f. 19-4-2000).

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