Section 6 in Insurance Regulatory and Development Authority of India (Third Party Administrators - Health Services) Regulations, 2016
6. [Minimum Capital and Net Worth Requirements] [Substituted 'Minimum Capital and Working Capital Requirements' by Notification F. No. IRDAI/Reg/15/166/2019, dated 3.12.2019 (w.e.f. 14.3.2016).].
(1)Only a company with a share capital and registered under the Companies Act, 2013 (18 of 2013) as amended from time to time, can function as a TPA.(2)A TPA shall maintain minimum paid up equity share capital of not less than rupees four crores.Provided that existing registered TPAs shall comply with this stipulation within one year from the date of notification of these regulations.(3)[ The net worth of a TPA shall at no time during the period of registration fall below rupees one crore.Explanation. - For the purposes of these regulations, "net worth" shall have the meaning assigned to it in the Companies Act, 2013 and as amended from time to time.] [Substituted by Notification F. No. IRDAI/Reg/15/166/2019, dated 3.12.2019 (w.e.f. 14.3.2016).](4)The foreign investment in the TPA shall comply with the policy and rules framed in this regard by Government of India and any regulations, guidelines or instructions issued by the Authority.
