Report No. 21
Notes on Clauses
Existing law in India
Some provisions relevant to the law of marine insurance-are at present contained in-
(a) section 2(20), section 7,1 and section 66 of the Indian Stamp Act, 1899 and Article 47, sub-divisions A and E, of the Schedule to the Act;
(b) the Insurance Act, 1938 (4 of 1938), which mainly deals with the working of insurance concerns and not with contracts of insurance;
(c) the Merchant Shipping Act, 1958 (44 of 1958), sections 345-352 and sections 402-404;
(d) section 130, Exception and sections 130A and 135A. Transfer of Property Act, 1882;
(e) the Commercial Documents Evidence Act, 1939 (30 of 1939), entry 9 in the Schedule, Part I.
1. Construed in Tricombji Dambji & Co. v. Virji Kanji, (1922) AIR 1923 Bom 142 (question being whether the document was a "policy" or a mere letter of cover to issue a policy and Surajmal v. Triton Insurance Co., 1925 ILR 52 Cal 408: AIR 1925 PC 83 (84) (The provisions of section 7 are mandatory).