Section 6 in The Insurance Regulatory And Development Authority (Meetings) Regulations, 2000
6. Minutes of the meetings.
(1)The Designated Officer shall record, within forty-eight hours of the conclusion of every meeting, the minutes of all proceedings at the meeting of the authority or committee meeting of the Authority and after obtaining the approval of the Chairperson or the presiding member, as the case may be, enter the minutes in books kept for that purpose.(2)Each page of every such book shall be initialled or signed and the last page of the record of proceedings of each meeting in such books shall be dated and signed by the Chairperson or the presiding member, as the case may be.(3)In no case the minutes of the proceedings of a meeting shall be attached to any such book as aforesaid by pasting or otherwise but may be kept on loose-leaf style and bound regularly.(4)Notwithstanding anything contained in sub-regulation (3), the minutes may also be kept by way of micro films or any other authentic modern means of safe storing and retrieval of records or printed material produced by a computer, if the same is recognised under any law and subject to the conditions, restrictions or safeguards mentioned in such law.(5)The minutes of each meeting shall contain a fair and correct summary of the decision arrived at the meeting.(6)The minutes shall also contain(a)the names of the members present at the meeting; and(b)in the case of each decision taken at the meeting, the names of the members, if any, dissenting from, or not concurring with the decision taken.(7)Nothing contained in this regulation shall be deemed to require the inclusion in any such minutes of any matter which are detrimental to the interests of the Authority.Explanation.-The Chairperson or the presiding member, as the case may be, shall exercise an absolute discretion in regard to the inclusion or non-inclusion of any matter in the minutes of any ground specified in this sub-regulation.(8)Minutes of the meetings kept in accordance with this regulation shall be evidence of the proceedings recorded therein.(9)The Designated Officer shall after the approval of the minutes by the Chairperson or the presiding member, as the case may be, send a copy of the minutes as entered in the minutes books to every member of the Authority for his information.(10)The Designated Officer shall also communicate, with the Approval of the Chairperson or the presiding member, the relevant extracts of the decision taken at the meeting of the Authority or any of its Committees to all concerned for necessary follow-up action and monitor their compliance by evolving a suitable reporting system. Periodical reports on follow-up action shall be submitted to the Authority.
