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CS Professional · Banking and Insurance - Laws and Practice · Concept of Insurance

At an election for the Executive Committee of the Life Insurance Council, the insurer members fail to elect one of the four representatives required. What does the Act allow?

The Authority may nominate any person to fill the vacancy. Under Section 64F(3), a person so nominated is deemed to be a member of the Executive Committee as if duly elected, so the failure of the electing body does not leave the seat vacant.

  1. AThe seat stays vacant until the next annual election
  2. BThe Authority may nominate a person to fill the vacancy, who is deemed to be duly electedCorrect
  3. CThe Chairperson may co-opt any person without approval
  4. DThe Central Government must dissolve the Executive Committee

Explanation

Section 64F(3) provides that if a body fails to elect any member, the Authority may nominate any person to fill the vacancy, and that person is deemed a member as if duly elected. The Act does not provide for leaving it vacant, co-option by the Chairperson or dissolution.

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