Insurance (Amendment) Rules, 2020 - G.S.R. 229 (E) - Indian Law

MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 1st April, 2020 G.S.R. 229 (E) . -In exercise of powers conferred by sub-sections (1) and (5) of section 64VB of the Insurance Act, 1938, the Central Government hereby makes the following rules further to amend the Insurance Rules, 1939, namely:- 1. (1) These rules may be called the Insurance (Amendment) Rules, 2020. (2) It shall come into force on the date of its publication in the Official Gazette. 2. In the Insurance Rules, 1939, in rule 59, after clause (n), the following clauses shall be inserted, namely:- (o) Motor vehicle third party insurance policies. - In the case of renewal of motor vehicle third party insurance policies falling during the period of lockdown due to outbreak of COVID-19 pandemic, the risk may be assumed subject to the condition that the premium shall be paid within such time as the Central Government may, by notification, specify in this behalf; (p) Health insurance policies.- In the case of renewal of health insurance policies falling during the period of lockdown due to outbreak of COVID-19 pandemic, the risk may be assumed subject to the condition that the premium shall be paid within such time as the Central Government may, by notification, direct in this behalf. . [F. No. 14017/18/2020-Ins-II] VANDITA KAUL, Jt. Secy. Note : The principal rules were published in the Gazette of India vide notification number 59-1(1)/38, dated 3 rd June, 1939 and was subsequently amended vide number G.S.R. 867, dated the 28th June, 1961, number G.S.R.45, dated the 18th December, 1965, number G.S.R. 401, dated the 26th February, 1976, number S.O. 961(E), dated the 24th March, 1992 and number dated the 24th June, 2003.