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    Question

    As per the Insurance Act the Authority may prepare the

    scheme of Amalgamation of the insurer with any other insurer if it is satisfied that ________________
    A It is in the public interest Correct Answer Incorrect Answer
    B It is in the interests of the policy-holders Correct Answer Incorrect Answer
    C For securing the proper management of an insurer Correct Answer Incorrect Answer
    D Either of the above Correct Answer Incorrect Answer
    E All the above Correct Answer Incorrect Answer

    Solution

    ┬аSection 37A Power of Authority to prepare Scheme of Amalgamation- (1) If the Authority is satisfied that-- (i) in the public interest; or (ii) in the interests of the policy-holders; or (iii) in order to secure the proper management of an insurer; or (iv) in the interest of insurance business of the country as a whole, it is necessary so to do, he may prepare a scheme for the amalgamation of that insurer with any other insurer (hereinafter referred to in this section as the transferee insurer)

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