The Motor Vehicles Act, 1988
157.
Transfer of certificate of insurance.
- Where a
person in whose favour the certificate of insurance has been issued
in accordance with the provisions of this Chapter transfers to another
person the ownership of the motor vehicle in respect of which such insurance
was taken together with the policy of insurance relating thereto, the
certificate of insurance and the policy described in the certificate shall be
deemed to have been transferred in favour of the person to whom the motor
vehicle is transferred with effect from the date of its transfer.
- The
transferee shall apply within fourteen days from the date of transfer in the
prescribed form to the insurer for making necessary changes in regard to the
fact of transfer in the certificate of insurance and the policy described
in the certificate in his favour and the insurer shall make the necessary
changes in the certificate and the policy of insurance in regard to the transfer
of insurance.
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