Section 19(4) in Bihar Contributory Provident Fund Rules, 1948
(4)Notice of the assignment of the policy shall be given by the subscriber to the insurance company, and the acknowledgement of the notice by the insurance company shall be sent to the Account Officer within three months of the date of assignment.Note 1. - Subscribers are advised to send notice of assignment in the insurance company in duplicate, accompanied in case in which the notice has to be sent to a company in Great Britain, or Ireland, by a remittance of five shillings, which is the fee for the acknowledgement authorised by the Policies of Assurance Act, 1867.The policy itself, bearing the assignment endorsed thereon, need not be sent to the Company, as Insurance Companies do not ordinarily require the production of the original instruments affecting a policy holder's title, until the policy becomes a claim.Note 2. - Subscribers who proceed to Great Britain, or Ireland, on quitting the service are adviced that under the English Stamp Law, assignment or assignments are required to be stamped within 31 days of the their first arrival in those countries. Otherwise penalty will be incurred under the Stamp Act and difficulties may arise when the policy matures for payment.
