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CMA Final · Corporate and Economic Laws · Laws and Regulations related to Insurance Sector

Section 28 of the IRDA Act, 1999 provides that the Act's provisions are in addition to other laws in force. What is the effect of this?

The Act's provisions apply in addition to, and not in derogation of, any other law for the time being in force. Section 28 therefore does not let the IRDA Act override other laws or replace the Insurance Act, 1938, and it is not limited to matters other laws leave uncovered.

  1. AThey apply in addition to, and not in derogation of, any other law for the time being in forceCorrect
  2. BThey override every other law in force
  3. CThey apply only where no other law covers the matter
  4. DThey replace the Insurance Act, 1938 entirely

Explanation

Section 28 says the provisions of the IRDA Act are in addition to, and not in derogation of, any other law for the time being in force. It therefore does not override or replace other laws, nor is it limited to matters on which no other law exists.

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