Insurance Regulatory and Development Authority of India (Insurance Brokers) (First Amendment) Regulations, 2018

Jan 29, 2019 | by Avantis RegTech Legal Research Team


The Insurance Regulatory and Development Authority of India (IRDAI) on January 21, 2019 has published the Insurance Regulatory and Development Authority of India (Insurance Brokers) (First Amendment) Regulations, 2018 to amend Form R which specifies the manner of calculation of equity capital held by foreign investors.

In Schedule II – Form R, a proviso has been inserted under “Explanation” in clause (1)(b)(ii) (ii):

“Provided the Chairman, IRDAI may relax the condition of the Indian promoter not being a subsidiary company as defined in the above section of the Companies Act, 2013 subject to merits and conditions, considering the interest of the policyholders and overall growth and development of the insurance sector.”

[Notification No. F. No. IRDAI/Reg/2/153/2019]

URL: http://egazette.nic.in/WriteReadData/2019/196193.pdf


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