Indian Insurance Companies (Foreign Investment) Rules, 2015 amended

Dated July 3, 2015 | Copy of | Notification | In exercise of the powers conferred by clause (aaa) of sub-section (2) of section 114 of the Insurance Act, 1938 read with clause (b) of sub-section (7A) of section 2 of the Insurance Act, 1938 and section 24 of tine Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Central Government hereby makes the following rules further to amend the Indian Insurance Companies (Foreign Investment) Rules, 2015, namely:- 1. (1) These rules may be called Indian Insurance Companies (Foreign Investment) Amendment Rules, 2015. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Indian Insurance Companies (Foreign Investment) Rules, 2015, in clause (1) of rule 2, the following proviso shall be inserted, namely: “Provided that the manner of computation of foreign holding of such Indian promoter or Indian Investor Company shall be in accordance with clause (p) of rule 2.”

Sd/- (Anup Wadhawan) Joint Secretary to the Government of India

G.S.R.534(E) F.No.12018/1/2006-Ins.IV Issued by: Ministry of Finance Department of Financial Services New Delhi Note:- The principal rules were published in the Gazette of India, Extraordinary; vide notification number G.S.R.115(E), dated the 19th February, 2015.

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