Section 2 in Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015
2. Definitions.
- In these Regulations, unless the context otherwise requires, -(1)"Act" means the Insurance Act, 1938 (4 of 1938);(2)"Applicant" means a person who applies for the grant of a Surveyor and Loss Assessor license or renewal thereof;(3)"Authority" means the Insurance Regulatory and Development Authority of India (IRDAI) established under sub-section (1) of Section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);(4)"Associate member" means any Licentiate Member and holding valid Surveyor and Loss Assessor license continuously for a period not less than 8 years and upon fulfilment of other criteria set out in Regulation 15(1) (a) (ii);(5)"Corporate Surveyor" means a company incorporated under the Companies Act, 2013 or a Firm formed under Partnership Act,1932, or an LLP (Limited Liability Partnership) incorporated under LLP Act 2008 and who is licensed to act as Surveyor and Loss Assessor(6)"Designated Person" means an officer of the Authority so designated by the Authority to discharge the functions assigned to him under these Regulations;(7)"Fellow Member" means any Associate Member holding valid Surveyor and Loss Assessor license continuously for a period not less than 16 years and fulfils other criteria set out in Regulation 15(1)(a)(iii);(8)"Inspecting Authority" means the person(s) appointed by the Authority to inspect and investigate the affairs of any Surveyor and Loss Assessor;(9)"Institute" means the Indian Institute of Insurance Surveyors and Loss Assessors (IIISLA) promoted by IRDAI under Section 14(2)(f) of IRDA Act, 1999 and incorporated under Section 8 of the Companies Act, 2013.(10)"IRDA Act" means the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);(11)"Licentiate Member" means any person holding a valid license issued by the Authority to act as Surveyor and Loss Assessor and fulfils other criteria set out in Regulation 15(1)(a)(i).(12)"Member" means Student Member or Licentiate Member or Associate Member or Fellow Member of the Institute.(13)"Surveyor and Loss Assessor" means a person who is licensed by the Authority to act as Surveyor and Loss Assessor.(14)"Student Member" means any person who is Member of the Institute and who enrols himself as a trainee with the Authority for seeking practical training to obtain a license to act as Surveyor and Loss Assessor;(15)"Membership level of a Surveyor and Loss Assessor" means level allotted by the Institute to a Member, based on the criteria set out in Regulation 15 of these Regulations(16)words and expressions used and not defined in these Regulations but defined in the Insurance Act, 1938 (4 of 1938) or Insurance Regulatory and Development Authority Act, 1999 (41 of 1999) or the General Insurance Business (Nationalization) Act, 1972 (57 of 1972), or in any Rules or Regulations made under those Acts, shall have the meanings respectively assigned to them in those Acts, Rules, Regulations, as the case may be.(17)In these Regulations the use of the word "he", "him" , "him" or "his" wherever appearing shall mean and include "she", "her", "it" or "it's" as the case may be; and the singular shall be deemed to mean and include the plural.
