Insurance Act 1938
Sections |
Context |
Case Laws |
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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 | ||||