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    Question

    The Fund constituted under the IRDA Act, 1999 shall be

    only used for meeting_____________
    A The salaries, allowances and other remuneration of the members, officers and other employees of the Authority. Correct Answer Incorrect Answer
    B The other expenses of the Authority in connection with the discharge of its functions and for the purposes of this Act. Correct Answer Incorrect Answer
    C The expenses related with the proceedings of the Tribunal under the Act. Correct Answer Incorrect Answer
    D Both (a) & (b) Correct Answer Incorrect Answer
    E Either (b) or (c) Correct Answer Incorrect Answer

    Solution

    Explanation: Section 16 Constitution of Fund- (2) The Fund shall be applied for meeting-- (a) the salaries, allowances and other remuneration of the members, officers and other employees of the Authority; (b) the other expenses of the Authority in connection with the discharge of its functions and for the purposes of this Act.

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