Insurance Regulatory and Development Authority Act, 1999
8. Bar on future employment of members
The Chairperson and the whole-time members shall not, for a
period of two years from the date on which they cease to hold office as such,
except with the previous approval of the Central Government, accept-
(a) any employment either under the Central Government or under
any State Government; or
(b) any appointment in any company in the insurance sector.