Section 2 in Insurance Regulatory and Development Authority of India (Payment of commission or remuneration or reward to insurance agents and insurance intermediaries) Regulations, 2016
2. Definitions.
(a)"Act" means the Insurance Act, 1938 (4 of 1938), as amended from time to time.(b)"Authority" means the Insurance Regulatory and Development Authority of India established under the provisions of Section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999).(c)"Commission" means the compensation paid to and received by an insurance agent from an insurer for soliciting and procuring an insurance policy.(d)"Insurance Intermediary" is as defined in Section 2(1)(f) of the IRDA Act, 1999 and for the purpose of this regulation includes
