Section 2 in The Insurance Regulatory And Development Authority (Registration Of Indian Insurance Companies) Regulations, 2000
2. Definitions
.-In these regulations, unless the context otherwise requires,-(a)"Act" means the Insurance Act, 1938 (4 of 1938);(b)"Authority" means the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);(c)"certificate" means a certificate of registration granted or renewed by the Authority under these regulations;(d)"enquiry officer" means an officer of the Authority or any person specifically appointed by it to conduct an enquiry for purposes of these regulations;(e)"general annuity business" means the business of effecting contracts to pay annuities on human life but does not include contracts under pension business;(f)"health insurance business" or "health cover" means the effecting of contracts which provide sickness benefits or medical, surgical or hospital expense benefits, whether in-patient or out-patient, on an indemnity, reimbursement, service, prepaid, hospital or other plans basis, including assured benefits and long term care;(g)"Indian promoter" means and includes-(i)a company formed under the Companies Act, 1956 (1 of 1956), which is not a subsidiary as defined in section 4 of that Act;(ii)a banking company as defined in sub-section (4-A) of section 2 of the Act but does not include a foreign bank or branch thereof functioning in India;(iii)a public financial institution as defined in section 4-A of the Companies Act, 1956 (1 of 1956);(iv)a co-operative society registered under any relevant law for the time being in force;(v)a person, who is an Indian citizen or a combination of persons who are Indian citizens;(h)"infrastructure facility" means-(i)[ a road, including toll road, a bridge or a rail system; [ Substituted by Notification No. IRDA/Reg/3/44/2008, dated 11.2.2008 (w.e.f. 13.2.2008).](ii)a highway project including other activities being an integral part of the highway project;(iii)a port, airport, inland waterway or inland port;(iv)a water supply project, irrigation project, water treatment system, sanitation and sewerage system or solid waste management system;(v)telecommunication services whether basic or cellular, including radio paging, domestic satellite service (i.e., a satellite owned and operated by an Indian company for providing telecommunication service), network of trunking, broadband network and internet services;(vi)an industrial park or special economic zone;(vii)generation or generation and distribution of power;(viii)transmission or distribution of power by laying a network of new transmission or distribution lines;(ix)construction relating to projects involving agro-processing and supply of inputs to agriculture;(x)construction for preservation and storage of processed agro-products, perishable goods such as fruits, vegetables and flowers including testing facilities for quality;(xi)construction of educational institutions and hospitals;(xii)any other public facility of similar nature as may be notified by the Authority in this behalf in the Official Gazette;](i)"linked business" means life insurance contracts or health insurance contracts under which benefits are wholly or partly to be determined by reference to the value of underlying assets or any approved index;(j)"non-linked business" means life insurance contracts or health insurance contracts which are not linked business;(k)"pension business" includes business of effecting contracts to manage investments of pension funds or superannuation schemes or contracts to pay annuities that may be approved by the Authority in this behalf;(l)"principal officer" means any person connected with the management of the applicant or any other person upon whom the Authority has served notice of its intention of treating him as the principal officer thereof;(m)all words and expressions used herein and not defined in but defined in the Insurance Act, 1938 (4 of 1938), or in the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), shall have the meanings respectively assigned to them in those Acts.
