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Question

What shall be credited to the Insurance Regulatory and Development Authority Fund as per the IRDA Act, 1999?

A All Government grants, fees and charges received by the Authority Correct Answer Incorrect Answer
B All sums received by the Authority from such other source as may be decided upon by the Central Government Correct Answer Incorrect Answer
C All sums received by the Authority from such other source as may be decided upon by the State Government Correct Answer Incorrect Answer
D Both (a) & (b) Correct Answer Incorrect Answer
E Either (b) or (c) Correct Answer Incorrect Answer

Solution

Both (a) & (b), Explanation: Section 16 Constitution of Fund- (1) There shall be constituted a fund to be called "the Insurance Regulatory and Development Authority Fund" and there shall be credited thereto--(a) all Government grants, fees and charges received by the Authority; (b) all sums received by the Authority from such other source as may be decided upon by the Central Government

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