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CS Professional · Banking and Insurance - Laws and Practice · Functions in Insurance and Compliance related thereto (Part I)

The members entitled to elect their representatives to the Executive Committee of the General Insurance Council fail to elect one of the four members under clause (a) of section 64F(2). What does the Act provide?

Under section 64F(3), if the electing body fails to elect any member, the Authority may nominate a person to fill the vacancy. That nominee is deemed a member of the Executive Committee as if duly elected.

  1. AThe Authority may nominate a person to fill the vacancy, who is deemed to be a duly elected memberCorrect
  2. BThe Committee must stay incomplete until the next election
  3. CThe Central Government must appoint the member
  4. DThe Chairperson alone may co-opt a member

Explanation

Section 64F(3) states that where the 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 require the Committee to remain incomplete, nor does it give the power to the Central Government or the Chairperson.

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