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

While reconstituting the Executive Committee of the General Insurance Council under Section 64F(2), the Authority notes that insurer members failed to elect one of the four representatives. What can the Authority do?

The Authority may nominate any person to fill the vacancy, and the nominee is deemed to be a member of the Executive Committee as if duly elected. The seat need not remain vacant, and the Central Government or Chairperson has no role in filling it.

  1. ANominate a person to fill the vacancy, who is deemed to be a member as if duly electedCorrect
  2. BLeave the seat vacant permanently, as nomination is not permitted
  3. CAsk the Central Government to elect the member
  4. DRequire the Chairperson to hold the seat additionally

Explanation

Section 64F(3) lets the Authority nominate any person to fill the vacancy when a body fails to elect a member, and that person is deemed to be a member as if duly elected. The other options have no basis in the section.

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