Section 3 in Motor Vehicles Third Party Insurance Rules, 1946
3. Definitions
.In these rules,(i)accounting year means the year commencing from the first April, and ending with the 31stMarch of the following year;(i -a) Act means the Motor Vehicles Act, 1939 (4 of 1939);(i -b ) authority means the Central Government or a State Government or any local authority or any State Transport Undertaking, whose motor vehicles have been exempted from compulsory insurance under sub-section (3) of section 94 of the Act;(i -c ) bank means a company which accepts, for the purpose of lending or investment, deposits of money from the public repayable on demand or otherwise, and withdrawal by cheque ,draft, order or otherwise;(i -d ) fund means the fund established under rule 15-A;(i -e ) Government security means a Government security as defined in the Public Debt Act, 1944 (18 of 1944);(ii)insurer means an authorised insurer as defined in section 93(a) of the Act;(iii)policy means a policy of insurance in respect of third party risks, arising, out of the use,of motor vehicles, such as complies, with the requirements of Chapter VIII of the Act, and includes unless the context requires otherwise, a cover-note.
