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In the present case, we are not concerned with the insurance agent. It is not the case of the Life Insurance Corporation that the DESU could be permitted as an insurance agent within the meaning of the Insurance Act and the regulations. The DESU is not procuring or soliciting any business for the Life Insurance Corporation. The DESU is certainly not an insurance agent within the meaning of the aforesaid Insurance Act and the regulations but the DESU is certainly an agent as defined in section 182 of the Contract Act. The mode of collection of premium has been indicated in the scheme itself and employer has been assigned the role of collecting premium and remitting the same to the Life Insurance Corporation. As far as the employee as such is concerned, the employer will be agent of the Life Insurance Corporation. It is a matter of common knowledge that insurance companies employ agents. When there is no insurance agent as defined in the regulations and the Insurance Act, the general principles of the law of agency as contained in the Contract Act are to be applied.