The Insurance Regulatory and Development Authority Act

Establishment and incorporation of Authority

Composition of Authority

Tenure of office of Chairperson and other members

Removal from office

Salary and allowances of Chairperson and members

Bar on future employment of members

Administrative powers of Chairperson

Meetings of Authority

Vacancies, etc., not to invalidate proceedings of Authority

Officers and employees of Authority


INSURANCE REGULATORYAND DEVELOPMENT AUTHORITY


The Chairperson and the whole-time members shall
not, for a period of two years from the date on which they cease to hold office as such, except with the
previous approval of the Central Government, accept--

(a) any employment either under the Central Government or under any State Government; or

(b) any appointment in any company in the insurance sector.

LAWGIST

# 8 Bar on future employment of members