{"id":3150,"date":"2022-09-14T07:05:30","date_gmt":"2022-09-14T07:05:30","guid":{"rendered":"https:\/\/rvkassociates.com\/blog\/?p=3150"},"modified":"2022-09-14T07:05:33","modified_gmt":"2022-09-14T07:05:33","slug":"clarification-on-circular-on-appointment-or-continuation-of-common-director","status":"publish","type":"post","link":"https:\/\/rvks.in\/blogs\/clarification-on-circular-on-appointment-or-continuation-of-common-director\/","title":{"rendered":"Clarification on Circular on Appointment or Continuation of Common Director"},"content":{"rendered":"\n<p class=\"has-text-align-right\"><strong>13.09.2022<\/strong><\/p>\n\n\n\n<p>To<\/p>\n\n\n\n<p>1. The Chairman\/CEOs of all insurance companies; and<\/p>\n\n\n\n<p>2. All Insurance agents, Intermediaries and insurance intermediaries<\/p>\n\n\n\n<p>The Authority issued the Circular IRDAI\/F&amp;I\/CIR\/MISC\/183\/9\/2022 dated 2nd September, 2022 wherein the Authority provided framework for appointment of Directors under section 48A of the Insurance Act, 1938.<\/p>\n\n\n\n<ol class=\"is-style-none wp-block-list\"><li>The Authority hereby clarifies that:<ol><li>1) The Directors appointed under section 48A of the Insurance Act, 1938 after obtaining due approval of the Authority may continue to hold the directorship till completion of tenure of appointment.<\/li><li>2. The provision of clause 3(b) of the said Circular shall not be applicable in case of any director appointed or proposed to be appointed as a nominee of a promoter of the insurer.<\/li><\/ol><\/li><\/ol>\n\n\n\n<p>The other stipulations of the said Circular shall continue to apply.<\/p>\n\n\n\n<p class=\"has-text-align-right\">(Rakesh Joshi)<br> Member (F&amp;I)<\/p>\n\n\n\n<p><strong>Circular :<\/strong> <a href=\"https:\/\/www.dropbox.com\/s\/8ezy3evq351ttro\/Circular%20191%20-%20Clarification%20on%2048A.pdf?dl=0\">https:\/\/www.dropbox.com\/s\/8ezy3evq351ttro\/Circular%20191%20-%20Clarification%20on%2048A.pdf?dl=0<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>13.09.2022 To 1. The Chairman\/CEOs of all insurance companies; and 2. All Insurance agents, Intermediaries and insurance intermediaries The Authority issued the Circular IRDAI\/F&amp;I\/CIR\/MISC\/183\/9\/2022 dated 2nd September, 2022 wherein the Authority provided framework for appointment of Directors under section 48A of the Insurance Act, 1938. The Authority hereby clarifies that: 1) The Directors appointed under [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,90],"tags":[106],"class_list":["post-3150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-circulars","category-irda","tag-irdai"],"_links":{"self":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/3150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/comments?post=3150"}],"version-history":[{"count":1,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/3150\/revisions"}],"predecessor-version":[{"id":3151,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/posts\/3150\/revisions\/3151"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media\/1539"}],"wp:attachment":[{"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/media?parent=3150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/categories?post=3150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rvks.in\/blogs\/wp-json\/wp\/v2\/tags?post=3150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}