IRDAI has issued a Exposure draft- IAC Meetings Regulations. The Key features include: –
- Flexibility in conducting number of meetings rather than hardcoding the number of meetings and considering Financial Year instead of Calendar for reckoning the number of meetings.
- Provision to allow circulation of notice and agenda for the meetings to Members of IAC in less than 7 days with the approval of the Chairperson.
- Change of name from “Designated Officer’ to ‘Secretary to the Authority’.
- Provision for enabling the Chairperson to decide the mode of meeting along with place and time.
- Reducing the notice period to 24 hours for convening an emergent meeting of the IAC.
- Inclusion of specific provision for Resignation and Removal of member of the IAC.
All the stakeholders are requested to forward their comments / suggestions, if any, on the proposed regulations (Annexure-A) in the attached format on or before 5:00 PM on 26.11.2024 to nithya@irdai.gov.in with a copy to anjaly.jolly@irdai.gov.in.