Availability of ‑ Guiding instructions regarding availability of new names for registration - Companies Law - Circular : No. 5 of 2000,

Circular : No. 5 of 2000, dated 30-6-2000. Subject:- Name of company ‑ Availability of ‑ Guiding instructions regarding availability of new names for registration Attention is invited to this Department s Circular No. 6 of 1999 (5/35/98-CL.V), dated 13th May, 1999, in regard to allowability of names for entrepreneurs seeking to promote companies for providing insurance services. In terms of the above circular such names were being given only after consulting the insurance regulatory authority until now. Consequent on the coming into force of the Insurance Regulatory Development Authority Act, 1999, with effect from 19th April, 2000, the department has received a reference from the insurance regulatory authority advising that the embargo on registration of names by new companies could be lifted. In view of this all ROCs are advised that they may allow names with the word insurance/assurance or risk corporation as part of the name without any need to consult the insurance regulatory authority. It is hereby clarified that such names can be allowed only to new companies and not for change of name as existing companies are not allowed to carry on any insurance activity.