CourtMesh

Section 6: Conditions for Grant of permission

Insurance Regulatory and Development Authority of India (Regulatory Sandbox) Regulations, 2019Central Regulations · 1938

(1) The Chairperson of the Authority, on being satisfied that the application:

2 Omitted by Insurance Regulatory and Development Authority of India (Regulatory Sandbox) (Amendment) Regulations, 2022 vide Notification No. IRDAI/Reg/3/182/2022 dated 05.12.2022, for the following:- "(3) The Authority shall follow the cohort approach in inviting applications for promoting innovation in insurance sector under the Regulatory Sandbox approach.

Explanation: For the purpose of these Regulations "cohort" means applications received from applicants during a specified period of time to be announced."

javascript:OpenNotifications('MANU/IRDA/0098/2022')

(a) promotes innovation beneficial to insurance in India;

(b) is in the interest of the policyholders;

(c) is conducive for the orderly growth of the industry;

(d) would promote increase in insurance penetration in the country;

(e) meets any other requirements as specified by the Authority, may grant permission subject to the applicant complying with the relevant provisions of the Insurance Act, 1938 and the Insurance Regulatory and Development Authority Act,

1999.

(2) The permission granted shall be valid for 3[an experiment period of up to 36 months].

4[(3) If the application is not considered, the applicant may file the review application to the committee as specified by the Authority.]

Where this provision sits

ActInsurance Regulatory and Development Authority of India (Regulatory Sandbox) Regulations, 2019
Section6
Marginal noteConditions for Grant of permission
JurisdictionCentral
StatusIn force as published by the source

Find the provision, not just read it

The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:

  • Search 49,000+ Central and State enactments by what a provision says, not by its number
  • Jump from any section to every judgment that has applied it
  • Search 300 million+ Indian court records alongside the statute
  • Ask a research agent to find and read the case law on a provision for you

Free account. No card. About a minute to create.

Create a free account

Need this as data, not as a page? Insurance Regulatory and Development Authority of India (Regulatory Sandbox) Regulations,… is one of 49,000+ enactments on CourtMesh. The Indian court cases API serves the case law that cites these provisions over JSON, with API documentation and plans and pricing. See also the judgment library.