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

While appointing a Controller of Insurance following supersession of the Authority, the Central Government considers four candidates. Which factor is expressly listed in section 2B(2) as one to which it must have due regard?

Section 2B(2) requires the Central Government to have due regard to whether the person has experience in industrial, commercial or insurance matters and whether the person has actuarial qualifications. Judicial, chartered accountancy or stock exchange credentials are not listed considerations.

  1. AWhether the person has held office as a judge of a High Court
  2. BWhether the person is a chartered accountant in practice
  3. CWhether the person has experience in industrial, commercial or insurance matters and has actuarial qualificationsCorrect
  4. DWhether the person has previously chaired a stock exchange

Explanation

Section 2B(2) requires due regard to whether the person has experience in industrial, commercial or insurance matters and whether the person has actuarial qualifications. Judicial office, chartered accountancy practice and stock exchange chairmanship are not listed.

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