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Section 16A: Constitution of Policyholders’ Education and Protection Fund.

The Insurance Regulatory and Development Authority Act, 1999Central Act · Act 41 of 1999

[16A. Constitution of Policyholders' Education and Protection Fund.---(1) The Authority shall constitute a fund to be called the Policyholders' Education and Protection Fund.

(2) There shall be credited to the Policyholders' Education and Protection Fund the following amounts, namely:---

(a) any grants and donations given to the Policyholders' Education and Protection Fund by the Central Government, State Governments, the Authority, companies or any other institutions for the purposes of the Policyholders' Education and Protection Fund;

(b) the sums realised by way of penalties by the Authority under this Act or the Insurance Act, 1938 (4 of 1938) or rules and regulations thereunder; and

(c) such other sums as may be specified by the regulations.

(3) The Policyholders' Education and Protection Fund shall be administered and utilised by the Authority for education of policyholders and protection of the interests of policyholders in the manner and for such other purposes as may be specified by the regulations.]

Where this provision sits

ActThe Insurance Regulatory and Development Authority Act, 1999
Section16A
Marginal noteConstitution of Policyholders’ Education and Protection Fund.
JurisdictionCentral
StatusIn 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 40 of 2025. . Ins. by Act 40 of 2025, s. 93 (w.e.f. 05-02-2026).

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