CMA Final · Corporate and Economic Laws · Laws and Regulations related to Insurance Sector
Section 28 of the IRDA Act, 1999 provides that its provisions are:
Section 28 of the IRDA Act, 1999 says its provisions are in addition to, and not in derogation of, the provisions of any other law for the time being in force. It therefore supplements other laws and does not replace or override them.
- Ain substitution of every other law for the time being in force
- Bin addition to, and not in derogation of, the provisions of any other law for the time being in forceCorrect
- Coverridden by the Insurance Act, 1938 in case of conflict
- Dapplicable only where no other law deals with insurance
Explanation
Section 28 states that the Act's provisions are in addition to, and not in derogation of, any other law in force. It does not replace other laws or subordinate itself to the Insurance Act.
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