Cite.Co is a repository of information and resources created by industry seniors and experts sharing their real world insights. Join Network
Please explain Whether an Insurance Intermediary registered with Insurance Regulatory Authority of India and Licensed by the same authority, need to get registered under the said act.
From India, Hyderabad
From India, Hyderabad
Dear Mr.Ramachandrarao,
I would like to invite your attention to Sections 2(5) , 3 and 73(1)(b) of the Andhrapradesh Shops and Establishments Act,1988. As per the definition of the term " Commercial Establishment " u/s 2(5), an insurance company is a commercial establishment under the Act. Needless to say that every Insurance Company would become operational only after its registration with the Insurance Regulatory Authority of India and so is the case of an Insurance Intermediary too. However, Sec.73(1)(b) of the APSE Act,1988 exempts the Central Govt establishments from the provisions of the Act. Therefore, all private Insurance Companies and the private intermediaries need to be registered under Sec.3 of the APSE Act,1988.
From India, Salem
I would like to invite your attention to Sections 2(5) , 3 and 73(1)(b) of the Andhrapradesh Shops and Establishments Act,1988. As per the definition of the term " Commercial Establishment " u/s 2(5), an insurance company is a commercial establishment under the Act. Needless to say that every Insurance Company would become operational only after its registration with the Insurance Regulatory Authority of India and so is the case of an Insurance Intermediary too. However, Sec.73(1)(b) of the APSE Act,1988 exempts the Central Govt establishments from the provisions of the Act. Therefore, all private Insurance Companies and the private intermediaries need to be registered under Sec.3 of the APSE Act,1988.
From India, Salem
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.
Add the url of this thread if you want to cite this discussion.
#Listed In: shops and establishment act shops and establishment company registration Country-India City-India-Hyderabad insurance company
Inspection Not Required Prior To Registration Under Rajasthan Shops And Establishment Act 1958.pdf
Applicability of Maharashtra Shops and Establishment Act.jpg
