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[Cites 0, Cited by 1] [Section 42] [Entire Act]

Union of India - Subsection

Section 42(5) in The Insurance Act, 1938

(5)The insurer shall be responsible for all the acts and omissions of its agents including violation of code of conduct specified under clause (h) of sub-section (3) and liable to a penalty which may extend to one crore rupees.