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In exercise of the powers conferred by section 14(2) read with clause (gb) of sub-section 2 of section 114A of the Insurance Act, 1938, and sub-section (1) of section 26 of the Insurance Regulatory and Development Authority of India Act, 1999, the Authority, in consultation with the Insurance Advisory Committee hereby makes the following regulations, namely:
1. Short title and commencement –
(1) These regulations may be called the Insurance Regulatory and Development Authority of India (Issuance of e-insurance policies) (First Amendment) Regulations, 2016.
(2) They shall come into force on the date of their notification in the Official Gazette.
2. Regulation 2(vi): To add the words “or be validated by One Time Password” after the words “electronic signature”
3. Regulation 3(v): to add the words “or be validated by One Time Password” after the words “electronic signature”
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