Section 5 in The Insurance Regulatory And Development Authority (Form Of Annual Statement Of Accounts And Records) Rules, 2001

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Union of India - Section

Section 5 in The Insurance Regulatory And Development Authority (Form Of Annual Statement Of Accounts And Records) Rules, 2001

5. Authorised signatory.-The balance-sheet, income and expenditure account and receipt and payment account mentioned in rule 3 shall be signed by the Chief Accounts Officer, if any, of the Authority and for purposes of authentication be signed by the Chairman and two members of the Authority.

FORM AThe Insurance Regulatory And Development AuthorityBALANCE-SHEET AS AT 31ST MARCH............................

Figures for the previous year (Rs.)	Liabilities	Figures for the current year (Rs.)	Figures for the previous year (Rs.)	Assets	Figures for the current year (Rs.)
(1)	(2)	(3)	(4)	(5)	(6)
	General fund:(i) IRDA fund (see Note 4)-At beginning of the year-Receipts in the year-Balance at end of the year(ii) Capital fund-Capital grants-Balance at the beginning of the year-Add: Value of fixed assets received as grants during the year(iii) Surplus and funds-Balance as per last balance-sheet-Add :Excess of income over expenditure as per income and expenditure account annexed.-Less :Excess of expenditure over income as per income and expenditure account annexed.-Balance at end of year(iv) Gift and donations(v) Other balances		-	Fixed assets (see Note 1) as per Annexure I
	Loans:(i) Secured(stating the security offered for the purpose)(ii) Unsecured(iii) Loan from Government of India(iv) Other loansCurrent liabilities and provisions(see Note 6)(i) Sundry creditors- for capitals items- for other items(ii) Provisions- Provision for doubtful debts and advances- Provisions for depletion in value of investment(iii) Other liabilities1. Unspent grants2. Interest payable to Government/other loans3. Provident retirement and other welfare funds(a) provident fund(b) other welfare funds(c) retirement benefit fund and staff benefit fund4. Others			Investments (method of valuation - at cost or at market value or any other valuation to be indicated against each category of investment) (see Note 2)(i) Securities of Central and State Government(ii) Units(iii) Fixed deposits with banks(iv) Others: (Specify type of instrument, if the amount invested is 5 per cent or more of total investments)Current Assets (see Note 3)(i) Deposits with agencies;(ii) Loans and advances to staff;(iii) Amounts due from insurance companies and others (to be specified)(iv) Other current assets;(v) Cash and bank balances;(a) Cash in hand (including cheques in hand and cash in transit);(b) Bank balances.

Note:

(1)The information relating to fixed assets is to be given in Annexure I.

(2)The information relating to investments is to be given in Annexure II.

(3)The information relating to current assets, is to be given in Annexure III.

(4)Details of IRDA Fund are to be given in Annexure IV (Fund should include grants received from Central Government, other organisations and bodies in terms of section 16 of the Act).

(5)Details of contingent liabilities are to be given in Annexure V.

(6)All information relating to significant accounting policies and notes forming part of accounts is to be given in Annexure IX.

(7)All annexures to statement of affairs and notes/information relating to accounting policy forming part of accounts.FORM BIncome And Expenditure Account For The Year Ended 31st March, .......................

Expenditure	(Rs.)	Income	(Rs.)
(1)	(2)	(3)	(4)
Payment to Chairperson and membersPayment to and provision for members of staff (see Note 1)Establishment expensesRentResearch and consultation feesSeminars conference publications etc.(see contra)Interest (see Note 3)DepreciationCapital asset written offLoss on write-off of assetsProvision for doubtful debts and advancesDevelopment expenditurePromotional expenditureExcess of income over expenditure carried to balance-sheet		Grants-in-aidReceivedReceivableLess: Transferred to capital fundFees:Registration feesRenewal feesOthersPenalties fines etcSeminar conferences and publications etcIncome from investmentsInterest on depositsInterest on advances:1. (i) granted to members of staff for housing purposes(ii) for other purposes2. OthersMiscellaneous incomeExcess of expenditure over income carried to balance-sheet

Significant accounting policies and notes forming part of accounts-Annexure IX.Notes:

(1)The information relating to payment to and provision for employees is to be given in Annexure VI.

(2)The information relating to establishment expenses is to be given in Annexure VII.

(3)The information relating to interest amount is to be given in Annexure VIII.

(4)All annexures to income and expenditure account and notes/information relating to significant accounting policies form part of accounts.FORM CReceipts And Payments Account For The Year Ended 31st March................

Receipts	(Rs.)	Payments	(Rs.)
(1)	(2)	(3)	(4)
To balance brought forward(i) Cash at bank(ii) Cash in hand(iii) Cheques in hand(iv) Cash/Cheques in transitRegistration fees :- Insurance companies- Insurance brokers- Insurance surveyors- Insurance agents- OthersRenewal fees :- Insurance companies- Insurance brokers- Insurance surveyors- Insurance agents- OthersTo penalties fines from insurers and intermediariesTo seminar conferences etc.To income from investmentsTo sale of investmentsTo grants(i) Grants from Central Govt./State Government/others(ii) Gifts and donationsTo loansTo sales of publication etc.To sale of assetsTo interest received on(i) Deposits(ii) Advances(iii) OthersTo recoveries from employees(a) Loans and advances(b) Interest on loans and advances(c) MiscellaneousTo other receipts		By research and consultation feesBy seminars conferences publications etc.By rentBy development expenditureBy promotional expenditureBy payment to Chairperson and members(i) Pay and allowances(ii) Other benefits(iii) Travelling expensesBy establishment expenses(i) Pay and allowances(ii) Other benefits(iii) Travelling allowances(iv) Retirement benefitsBy office expensesBy interest on(i) Government loans(ii) Other loansBy purchase of assets (specify)By capital work-in-progressBy loans/advances to staff and othersBy investmentsBy repayment of Government loansBy repayments of other loansBy other expensesBy balance carried forward:(i) Cash at bank(ii) Cash in hand(iii) Cheques in hand(iv) Cash/cheques in transit

Annexure I

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Union of India - Section

Section 5 in The Insurance Regulatory And Development Authority (Form Of Annual Statement Of Accounts And Records) Rules, 2001

5. Authorised signatory.-The balance-sheet, income and expenditure account and receipt and payment account mentioned in rule 3 shall be signed by the Chief Accounts Officer, if any, of the Authority and for purposes of authentication be signed by the Chairman and two members of the Authority.