Section 11 in Tariff Advisory Committee (Election Of Members, Meetings, Functions And Miscellaneous Regulations, 2004
11. Functions of the Committee.-
Subject to the provisions of the Act, the functions of the Committee shall be the following, namely :(i)to control and regulate form time to time and to the extent it deems expedient the rates, advantages, terms and conditions that may be offered by insurers in respect of any risk of any class or category of risks, the rates, advantages, terms and conditions of which in its opinion, it is proper to control and regulate;(ii)to collect from any insures such information or statements, periodical or ad hoc, as it may consider necessary to enable it to discharge the functions under Part II-B of the Act;(iii)to make, with the previous approval of the Authority, regulations for all or any of the matters specified in sub-section (3) of Section 64-UB of the Act;(iv)to fix the amount of fees payable by insurer and to fix fees and charges to cover the cost of any specific services rendered by it;(v)to invest, deal with or otherwise dispose of any of the monies or property or assets of the Committee and from time to time vary and realize such investments;(vi)to make and give receipts, releases and other discharges for monies payable for goods or property belonging to the Committee and for the claims and the demands of the Committee;(vii)to sanction all expenditure for the purposes of carrying out its functions and duties;(viii)to appoint such officers and servants as may be necessary and fix the conditions of their service;(ix)to sign, seal, execute and deliver all instruments, deeds, documents or writings necessary or expedient for the purpose of carrying out is (sic its) duties and functions;(x)to invite to its meetings any persons(s) whose presence is necessary or desirable for transaction of the business of the meetings;(xi)to make arrangements, at any time, on the application of an insurer, for the inspection of an organization which is concerned with the inspection of risks, adjustments of losses or fire-fighting appliances and, whenever necessary, to advise insurers about the adequacy of the arrangements for the inspection of risks and adjustments of losses or the suitability of such appliances;(xii)to undertake any other function or task as may be assigned by the Authority from time to time;(xiii)to do all such acts and conduct all such matters as may be necessary, incidental or ancillary to any of the matters specified in the foregoing clauses or in order to effectively discharge the functions vested in the Committee by the Act.
