Insurance Regulatory and Development Authority
(Registration of Indian Insurance Companies) (Second Amendment) Regulations,
2008
In exercise of the powers conferred by
section 114A of the Insurance Act, 1938 (4 of 1938) read with section 26 of the
Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the
Authority, in consultation with the Insurance Advisory Committee, hereby makes
the following regulations to further amend the Insurance Regulatory and
Development Authority (Registration of Indian Insurance Companies) Regulations,
2000, notified on July 14, 2000 in the Gazette of India and amended on February
26, 2003 in the Gazette of India F/No. IRDA/Reg./26/2003, namely :—
1. Short title and commencement
(1) These
regulations may be called the Insurance Regulatory and Development Authority
(Registration of Indian Insurance Companies) (Second Amendment) Regulations,
2008.
(2) They
shall come into force on the date of their publication in the Official Gazette.
2. ‘Infrastructure facility' as defined
in clause (h) of regulation 2 of the Insurance Regulatory and
Development Authority (Registration of Indian Insurance Companies) Regulations,
2000, shall be amended to read as follows :—
(i) a
road, including toll road, a bridge or a rail system ;
(ii) a highway project including other
activities being an integral part of the highway project ;
(iii) a port, airport, inland waterway or
inland port ;
(iv) a water supply project, irrigation project,
water treatment system, sanitation and sewerage system or solid waste
management system ;
(v) telecommunication services whether basic
or cellular, including radio paging, domestic satellite service (i.e., a
satellite owned and operated by an Indian company for providing
telecommunication service), network of trunking, broadband network and internet
services ;
(vi) an
industrial park or special economic zone ;
(vii) generation
or generation and distribution of power ;
(viii) Transmission
or distribution of power by laying a network of new transmission or
distribution lines ;
(ix) construction
relating to projects involving agro-processing and supply of inputs to
agriculture ;
(x) construction
for preservation and storage of processed agro-products, perishable goods such
as fruits, vegetables and flowers including testing facilities for quality ;
(xi) construction
of educational institutions and hospitals ;
(xii) any
other public facility of similar nature as may be notified by the Authority in
this behalf in the Official Gazette.