Section 53(2)(b) in The Insurance Act, 1938

[Cites 0, Cited by 3] [Section 53(2)] [Section 53] [Entire Act]

Union of India - Subsection

Section 53(2)(b) in The Insurance Act, 1938

(b)if the Authority, who is hereby authorised to do so, applies in this behalf of the Tribunal on any of the following grounds, namely:-

(ii)that the company having failed to comply with any requirement of this Act has continued such failure or having contravened any provision of this Act has continued such contravention for a period of three months after notice of such failure or contravention has been conveyed to the company by the Authority,

(iii)that it appears from any returns or statements furnished under the provisions of this Act or from the results of any investigation made thereunder that the company is, or is deemed to be insolvent, or

(iv)that the continuance of the company is prejudicial to the interest of the policy-holders or to the public interest generally.

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Union of India - Subsection

Section 53(2)(b) in The Insurance Act, 1938