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[Cites 0, Cited by 0] [Section 3] [Entire Act]

Union of India - Subsection

Section 3(2) in The Insurance Regulatory And Development Authority (Investment) Regulations, 2000

(2)Pension and General Annuity Business "> (2) Pension and General Annuity Business "> (2) Pension and General Annuity Business "> (2) Pension and General Annuity Business .-Every insurer shall invest and at all times keep invested funds belonging to his Pension and General Annuity Business in the following manner:-
No. Type of Investment Percentage
(i) Government Securities Not less than 20% of the fund
(ii) Government Securities or other Approved Securities Not less than 40% of the fund (incl(i)above)
(iii) Balance to be invested in Approved Investments, as specified in Schedule I, subject to Exposure/Prudential norms specified in regulation 5. Not exceeding 60% of the fund
Note .-For the purposes of this sub-regulation no investment falling under "Other Investments" as specified under (sic section) 27-A (2) of Insurance Act, 1938 shall be made. However, funds pertaining to Group Insurance Business, except One Year Renewable pure Group Term Assurance Business (OYRGTA) shall form part of Pension and General Annuity Fund. OYRGTA funds shall follow the pattern of Investment of Life Business.