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Question

According to the Insurance Act what is the prescribed duration for the Executive Committee of the Life Insurance Council or the General Insurance Council?

A One year from the date of its first meeting Correct Answer Incorrect Answer
B Three years from the date of its constitution Correct Answer Incorrect Answer
C Five years from the date of its meeting Correct Answer Incorrect Answer
D Ten years from the date of its constitution Correct Answer Incorrect Answer
E Three years from the date of its first meeting Correct Answer Incorrect Answer

Solution

Section 64H.   Duration and dissolution of Executive Committees- (1) The duration of the Executive Committee of the Life Insurance Council or the General Insurance Council shall be three years from the date of its first meeting on the expiry of which it shall stand dissolved and a new Executive Committee constituted.

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