RewriteEngine On RewriteBase / RewriteRule ^index\.php$ - [L] RewriteCond %{REQUEST_FILENAME} !-f RewriteCond %{REQUEST_FILENAME} !-d RewriteRule . /index.php [L] RewriteEngine On RewriteBase / RewriteRule ^index\.php$ - [L] RewriteCond %{REQUEST_FILENAME} !-f RewriteCond %{REQUEST_FILENAME} !-d RewriteRule . /index.php [L] Insurance Act 1938 - LawSite.today

Insurance Act 1938

 

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Case Laws

PREAMBLE Preamble CaseLaw
1 Short title extent and commencement CaseLaw
2 Definitions CaseLaw
3 Registration CaseLaw
4 Omitted CaseLaw
5 Restriction on name of insurer CaseLaw
6 Requirements as to capital
7 Deposits
8 Reservation of deposits
9 Refund of deposits
10 Separation of accounts and funds CaseLaw
11 Accounts and balance-sheet CaseLaw
12 Audit CaseLaw
13 Actuarial report and abstract CaseLaw
14 Register of policies and register of claims
15 Submission of returns CaseLaw
16 Omitted
17 Exemption from certain provisions of the Companies Act 1913 CaseLaw
18 Furnishing reports CaseLaw
19 Abstract of proceedings of general meetings
20 Custody and inspection of documents and supply of copies
21 Powers of controller of insurance regarding returns CaseLaw
22 Power of controller of insurance to order revaluation CaseLaw
23 Evidence of documents
24 Omitted
25 Returns to be published in statutory forms
26 Alterations in the particulars furnished with application  for registration to be reported
27 Investment of assets CaseLaw
28 Statement of investments of assets
29 Prohibition of loans CaseLaw
30 Liability of directors etc for loss due to contraventions of sections 27 and 29
31 Assets of insurer how to be kept
32 Appointment of managing agent prohibited
33 Power of controller of insurance to order investigation CaseLaw
34 Powers of investigator
35 Amalgamation and transfer of insurance business CaseLaw
36 Sanction of amalgamation and transfer by Court
37 Statements required after amalgamation and transfer
38 Assignment and transfer of insurance policies CaseLaw
39 Nomination by policy-holder CaseLaw
40 Prohibition of payment by way of commission or other wise for procuring business CaseLaw
41 Prohibition of rebates
42 Licensing of insurance agents CaseLaw
43 Register of insurance agents
44 Prohibition of cessation of payments of commission CaseLaw
45 Policy not to be called in question on ground of misstatement after two years CaseLaw
46 Application of Pakistan law to policies issued in Pakistan CaseLaw
47 Payment of money into Court CaseLaw
48 Directors of insurers being companies
49 Restriction on dividends and bonuses
50 Notice of options available to the assured on the lapsing of a policy
51 Supply of copies of proposals and medical reports CaseLaw
52 Prohibition of business on diving principle
53 Winding up by the Court CaseLaw
54 Voluntary winding up
55 Valuation of liabilities
56 Application of surplus assets of life insurance fund in liquidation or insolvency
57 Winding up secondary companies
58 Schemes for partial winding up of insurance companies
59 Return of deposits
60 Notice of policy values
61 Power of Court to reduce contracts of insurance
62 Power of central Government to impose reciprocal disabilities on non-Pakistan companies
63 Particulars to be filed by insurers established outside Pakistan
64 Books to be kept by insurers establishment outside Pakistan
65 Definitions of provident society
66 Restrictions on provident societies
67 Name
68 Insurable interest
69 Dividing business
70 Registration
71 Certain provisions of part II to apply to provident societies
72 Working capital
73 Deposits
74 Rules
75 Amendment of rules
76 Supply of copy of rules
77 Registered office
78 Publication of authorized capital to contain also subscribed and paid-up capital
79 Registers and books
80 Revenue account balance-sheet and annual statements
81 Actuarial report and abstract CaseLaw
82 Submission of returns to controller of insurance
83 Actuarial examination of schemes
84 Separation of accounts and funds
85 Investment of funds
86 Inspection of books
87 Inquiry by or on behalf of controller of insurance
88 Winding up by Court and voluntary winding up
89 Reduction of insurance contracts
90 Appointment of liquidator
91 Powers of liquidator
92 Procedure at liquidation
93 Dissolution of provident society
94 Nominations and assignments
95 Definitions CaseLaw
96 Application of act to mutual insurance companies and co-operative life insurance societies
97 Working capital of  mutual insurance companies and co-operative life insurance societies
98 Deposit to be made by mutual insurance companies and co-operative life insurance societies
99 Transferees and assignees of policies not to become members
100 Publication of notices and documents of mutual insurance companies and co-operative life insurance societies
101 Supply of documents to members
102 Penalty for default in complying with or act in contravention of this act CaseLaw
103 Penalty for transacting insurance business in contravention of section 3, 7 and 98 CaseLaw
104 Penalty for false statement in document CaseLaw
105 Wrongfully obtaining or withholding property
106 Power of Court to order restoration of property of insurer or compensation in certain cases CaseLaw
107 Previous sanction of advocate general for institution of proceedings CaseLaw
108 Power of Court to grant relief CaseLaw
109 Cognizance of offences
110 Appeals CaseLaw
111 Service of notices
112 Declaration of interim bonuses
113 Acquisition of surrender values by policy
114 Power of central Government to make rules
115 Alteration of forms
116 Power to exempt from certain requirements
117 Saving provisions of Companies Act 1913
118 Exemptions
119 Inspections and supply of copies of published prospectus etc
120 Determination of market value of securities deposited under this act
121 Omitted
122 Omitted
123 Omitted
2-A Insurance to be subject to this act while liabilities remain unsatisfied CaseLaw
2-B This act  not to apply to certain insurers ceasing to enter into new contracts before commencement of act
2-C Prohibition of transaction of insurance business by certain persons
3-A Renewal of registration
3-B Rates terms and conditions of operation of an insurer
3-C Provision relating to collection of premiums CaseLaw
3-D Provisions relating to reinsurances and insurances abroad
12-A Special audit
17-A Omitted
27-A Insurers of general insurance business to have assets invested in Pakistan CaseLaw
32-A Powers to restrict payment of excessive remuneration
32-B Provisions relating to managers etc
40-A Limitation of expenditure on commission
40-B Limitation of expenses of management in life insurance business
40-C Limitation of expenses of management in general insurance business CaseLaw
40-D Remuneration
42-A Employers of agents to hold certificates
42-B Powers to ensure compliance with certain provisions
44-A Insurance surveyors to hold certificates CaseLaw
44-B Second survey CaseLaw
47-A Dispute over claims on life policies of small amount
48-A Life insurance agents not to be directors of life insurance companies
49-A Distribution of profits on life insurance business among policy-holders CaseLaw
52-A When administrator for management of insurance business may be appointed
52-B Powers and duties of the administrator
52-C Powers of administrator respecting property liable to attachment under section 106
52-D Cancellation of contracts and agreements
52-E Termination of appointment of administrator
52-F Finality of decision of appointing administrator
52-G Penalty for withholding document or property from administrator
52-H Protection of action taken under sections 52a to 52d
53-A Unpaid -up share capital
70-A Renewal of registration
70-B Supplementary information and reports of alterations in particulars furnished with application for registration
73-A Restriction on name of provident society
87-A Amalgamation and transfer of insurance business
90-A Application of act to liquidators
98-A Prohibition of loans
106-A Notice to and hearing of controller of insurance
110-A Delegation of powers and duties of controller of insurance
110-B Signature of documents
110-C Powers to call for information
116-A Summary of returns to be published
120-A Advisory board
120-B Regional offices
47-B None CaseLaw
47-C None CaseLaw
47-L Other jurisdiction of Board CaseLaw
3-BB CaseLaw
114-B CaseLaw

 

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