(1) The feefor registration under Sec. 3 of the Act shall be five hundred rupeesfor each of the following classes of insurance business done or to bedone by the insurer, namely:
(i) life insurance;
(ii) fire insurance;
(iii) marine insurance;
(iv) miscellaneous insurance:
Provided that where the business done or to be done is marineinsurance only and relates exclusively to country craft or cargo ofcountry craft or both the fee for registration shall be two hundredand fifty rupees;
Provided further that where an insurer who is already registeredfor carrying on marine insurance business relating exclusively tocountry craft or cargo of country craft or both and no other class ofinsurance business, subsequently, applies for registration forcarrying on the entire class of marine insurance or any other classof insurance business specified above, the fee for such registrationshall be two hundred and fifty rupees plus the fee for registrationof the class, if any, of insurance business other than marineinsurance business for which registration is sought, (1-A) The fee for issue of a duplicate certificate of registrationunder subsection (7) of Sec. 3 shall be ten rupees.
(2) The fee for renewal of registration under Sec. 3-A of the Actfor each class of insurance business for which the insurer isregistered shall be -
(a) in the case of an insurer not carrying on solely re-insurance,business, one-fourth of one per cent. of the total gross premiumwritten direct in India in that class of insurance business duringthe year preceding the year in which the application for renewal ofregistration is required to be made by insurer, (the amount of fee soarrived at, if not an integral number of rupees, being rounded off tothe next lower integral rupee), or five hundred rupees whichever isgreater;
(b) in the case of an insurer carrying on solely re-insurancebusiness onefourth of one per cent of the total premiums in respectof facultative reinsurances accepted by the insurer in that class ofinsurance business during the year preceding the year in which theapplication for renewal of registration is required to be made (theamount of fees so arrived at, if not an integral number of rupees,being rounded off to the next lower integral rupee) or five hundredrupees whichever is greater.
(3) The fee for registration under Sec. 70 the Act shall be twohundred rupees. (3-A) The fee for issue of duplicate certificate ofregistration under sub-section (7) of Sec. 70 shall be three aipees.
(4) The fee for renewal of registration under Sec. 70-A of the Actshall be fifty rupees where the total gross premium income includingannuity considerations, admission fees and other fees, if any, asshown in the revenue account last furnished under the Act was lessthan fifty thousand rupees per annum or one hundred rupees in allother cases.
(5) The fee payable for obtaining copies under Sec. 119 of the Actshall be two rupees for each fullscap page or part of a page of thecopy, the copy being prepared with reasonable margin and spacing.
(6) Any fee specified in this rale or payable under sub-section(1) of Sec. 20 of the Act shall be paid into the Bank or where thereis no office of the Bank, into the Imperial Bank of India acting asthe agent of that Bank or into any Government treasury for creditunder the head "XXI-Miscellaneous Department-Fees realised underthe Insurance Act, 1938, and the receipt shall be sent along with therelevant application.
24-A. Fees payable on referring disputed claims to Controller.-(1) The fee payable at the time of referring to the Controller adispute relating to the settlement of a claim on a policy of lifeinsurance under sub-section (1) of Sec.47-A of the Act is rupees tenor rupees for each hundred rupees or part thereof of the amount ofthe claim (including any profit or bonus), whichever is greater.
(2) Any fee specified in this rule shall be paid in the form of"Government of India Insurance" stamps available on paymentfrom a Government Treasury and the stamp shall be affixed on theapplication or letter referring the dispute to the controller andsuperscribed with the signature of the claimant.
(3) Where in respect of any fee specified in this rule "Governmentof India Insurance" stamps of a greater value than is necessaryhave been inadvertently used or where the application or letterreferring a dispute to the controller bearing such stamps is notentertained by the Controller under Sec.47-A of the Act for anyreason, refund may be made of the excess over the necessary fee. orof the value of the stamps affixed, as the case may be.
24-B. Fees payable to the Councils.- (1) The fees payable by amember or associate member who is an insurer carrying onlife-insurance business to the Life Insurance Council in eachcalendar year shall be fifty rupees for every lakh of rupees or partthereof of his gross direct premium income from life-insurancebusiness in India in the last but one preceding calendar year subjectto a maximum of one thousand and two hundred and fifty rupees.
(2) The fees payable by a member or associate member who is aninsurer carrying on general insurance business to the GeneralInsurance Council in each calendar year shall be twenty-five rupeesfor every ten thousand rupees or part thereof of his gross directpremium income in India in general insurance business in the last butone preceding calendar year.
(3) Any fee specified in this rule shall be paid by means of acrossed bank draft on the Simla Branch of the Imperial Bank of Indiadrawn in favour of the Secretary of the Council concerned.
Miscellaneous