Question

    According to the Insurance Act, what is the maximum

    period that books, accounts, papers, receipts, vouchers, reports, or other documents can be retained by the authorized officer after seizure?
    A 60 days Correct Answer Incorrect Answer
    B 90 days Correct Answer Incorrect Answer
    C 120 days Correct Answer Incorrect Answer
    D 180 days Correct Answer Incorrect Answer
    E 365 days Correct Answer Incorrect Answer

    Solution

    Section 34H. Search and seizure (5) The books, accounts, papers, receipts, vouchers, reports, or other documents seized under sub-section (1) shall not be retained by the authorised officer for a period exceeding one hundred and eighty days from the date of the seizure unless the reasons for retaining the same recorded by hi m in writing and the approval of the Chairperson of the Authority for such retention is obtained.

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