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Report No. 190 Chapter VIII Provisions Relating to Penalties and other Changes 8.1.1 Paras 8.8 and 8.9 of the Consultation Paper (Appendix I to this Report) discussed the proposed changes to the provisions of the Act that prescribed penalties and other provisions in which changes were called for. The responses received have more or less welcomed the proposals. For want of specific response from the Central Government and the IRDA, the Law Commission, however, is not expressing any view on the proposal in the Consultation Paper in regard to the Insurance Councils (s.64C, powers of the Executive Committee (s.64I), and powers of the Executive Committee of the Life Insurance Councils to hold examination for insurance agents (s.64UI). Likewise, no recommendation is being made on the proposal that a trade union be permitted to carry on insurance business.    |
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