4. Membership of the Fund: (1) The insurer registered for operation of
non-life insurance enterprise under the Insurance Act, 1992 may obtain
the membership of the Fund.
(2) An insurer interested to be a member of the Fund under Subrule
(1) shall have to submit application in the format of Schedule-1 to
the Board of Directors.
(3) The Board of Directors, in the situation of being found the
due maintenance of procedure under these Rules in the application
received under Sub-rule (2), shall grant membership of Fund to such
applicant insurer in the format of Schedule- 2.
5
(4) The membership granted under Sub-rule (3) shall be valid
for one fiscal year and such membership may be renewed.
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(5) While renewing under Sub-rule (4), it should be got renewed
from the official granting membership within one month of termination
of duration of validity of membership by paying the renewal fee
prescribed by the Board of Directors.
3
Inserted by First Amendment
4
Amended by First Amendment
5
Inserted by First Amendment
6
Inserted by First Amendment