Question

As per Section 64N of the Insurance Act, 1938, what powers do the Executive Committees of the Life Insurance Council and the General Insurance Council have in certain cases?

a.

They can independently make decisions on matters of common interest

b.

They can hold joint meetings and delegate matters to a subcommittee

c.

They have no authority to collaborate on matters of common interest

d.

They can only meet jointly without delegation

Answer: (b).They can hold joint meetings and delegate matters to a subcommittee Explanation:Section 64N allows the Executive Committees of the Life Insurance Council and the General Insurance Council to hold joint meetings in prescribed circumstances, and they can delegate matters to a subcommittee during such joint meetings.

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Q. As per Section 64N of the Insurance Act, 1938, what powers do the Executive Committees of the Life Insurance Council and the General Insurance Council have in certain cases?

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