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Union of India - Section

Section 9 in The Insurance (Amendment) Act, 2002

9. Amendment of section 42.- In section 42 of the principal Act,-

(a)in sub- section (3), for the brackets and letter" (e)", the brackets and letters" (e), (ea)" shall be substituted;
(b)in sub- section (4),-(i) in clause (e), for the words" that he does not possess", the words" that in the case of an individual, he does not possess" shall be substituted;
(ii)after clause (e), the following clause shall be inserted, namely:-
(ea)that in the case of a company or firm making an application under sub- section (1) or sub- section (3), a director or a partner or one or more of its officers or other employees so designated by it and in the case of any other person, the chief execu ive, by whatever name called, or one or more of his employees designated by him, do not possess the requisite qualifications and practical training and have not passed such an examination as required under clauses (e) and (f);