New Click here to Enroll in NaBFID Analyst Intro Class on May 6

    Question

    Which section of the Insurance Act deals with the

    provisions relating to the restrictions on the opening of a new place of business?
    A Section 64 Correct Answer Incorrect Answer
    B Section 64C Correct Answer Incorrect Answer
    C Section 64V Correct Answer Incorrect Answer
    D Section 64VC Correct Answer Incorrect Answer
    E Section VIC Correct Answer Incorrect Answer

    Solution

    Explanation: Section 64VC Restrictions on opening of new place of business -No insurer shall, after the commencement of the Insurance (Amendment) Act, 1968, open a new place of business or close a place in India or outside India or change otherwise than within the same city, town or village, the location of an existing place of business situated in India or outside India, except in the manner as may be specified by the regulations

    Practice Next