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3[64ULA. Transitional provisions.-

(1) Notwithstanding anything contained in this Part, until the rates, advantage and terms and conditions laid down by the Advisory Committee under section 64UC are de-notified by the Authority with effect from such date as the Authority may by notification in the Official Gazette determine, and the rates, advantages and terms and conditions are decided by the insurer concerned, the rates, advantages and terms and conditions notified by the Advisory Committee shall continue to be in force and shall always be deemed to have been in force and any such rates, advantages and terms and conditions shall be binding on all the insurers.

(2) The Authority shall, in consultation with the Central Government, prepare a scheme for the existing employees of the Tariff Advisory Committee on its dissolution, keeping in view the interests of such employees on such terms and conditions as it may, by order, determine.]

1. The words "or the Tariff Committee appointed under section 64-O" omitted by Act 62 of 1968, s. 28 (w.e.f. 1-6-1969).

2. Ins. by s. 29, ibid, (w.e.f. 1-6-1969).

3. Ins. by Act 5 of 2015, s. 81 (w.e.f. 26-12-2014).

1. Subs. by Act 5 of 2015, s. 82, for section 64UM (w.e.f. 26-12-2014).



Insurance Act, 1938 Back




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