24. Fees under the Act and the manner of collection
.-(1) The fee for registration under section 3 of the Act shall be five hundred rupees for each of the following classes of insurance business done or to be done by the insurer, namely:--(i)life insurance;(ii)fire insurance;(iii)marine insurance;(iv)miscellaneous insurance:Provided that where the business done or to be done is marine insurance only and relates exclusively to country craft or cargo of country craft or both, the fee for registration shall be two hundred and fifty rupees:Provided further that where an insurer who is already registered for carrying on marine insurance business relating exclusively to country craft or cargo of country craft or both and no other class of insurance business, subsequently, applies for registration for carrying on the entire class of marine insurance or any other class of insurance business specified above, the fees or such registration shall be two hundred and fifty rupees plus the fee for registration of the class, if any, of insurance business other than marine insurance business for which registration is sought.(1-A) The fee for issue of a duplicate certificate of registration under sub-section (7) of section 3 shall be ten rupees.(2)[ The fee for renewal of registration under section 3-A of the Act for each class of insurance business for which the insurer is registered shall be--(a)in the case of an insurer not carrying on solely re-insurance, business, one--fourth of one per cent of the total gross premium written direct in India in that class of insurance business during the year preceding the year in which the application for renewal of registration is required to be made by insurer (the amount of fee so arrived at, if not an integral number of rupees, being rounded off to the next lower integral rupee), or five hundred rupees, whichever is greater;(b)in the case of an insurer carrying on solely re-insurance business one-fourth of one per cent of the total premiums in respect of facultative re-insurances accepted by the insurer in that class of insurance business during the year preceding the year in which the application for renewal of registration is required to be made (the amount of fees so arrived at, if not an integral number of rupees, being rounded off to the next lower integral rupee), or five hundred rupees, whichever is greater].(3)The fee or registration under section 70 of the Act shall be two hundred rupees.(3-A) The fee for issue of duplicate certificate or registration under sub-section (7) of section 70 shall be three rupees.(4)The fee for renewal of registration under section 70-A of the Act shall be fifty rupees where the total gross premium income including annuity considerations, admission fees and other fees, if any, as shown in the revenue account last furnished under the Act was less than fifty thousand rupees per annum or one hundred rupees in all other cases.(5)The fee payable for obtaining copies under section 119 of the Act shall be two rupees for each fulls cape page or part of a page of the copy, the copy being prepared with reasonable margin and spacing.(6)Any fee specified in this rule or payable under sub-section (1) of section 20 of the Act shall be paid into the Bank or where there is no office of the Bank, into the Imperial Bank of India acting as the agent of that Bank or into any Government Treasury for credit under the head ["XXI-Miscellaneous Department-Fees realised under the Insurance Act, 1938] [ Substituted by G.S.R. 1604, dated 22.11.1962.], and the receipt shall be sent along with the relevant application.
