LIC of India Development Officers (Amendment) Rules, 2021

Life Insurance Corporation of India Development Officers (Revision of Certain Terms and Conditions) (Amendment) Rules, 2021- NOTIFICATION

G.S.R. 497(E).—In exercise of the powers conferred by section 48 of the Life Insurance Corporation Act, 1956 (31 of 1956), the Central Government hereby makes the following rules further to amend the Life Insurance Corporation of India Development Officers (Revision of Certain Terms and Conditions) Rules, 2009, namely:—

1. Short title and commencement.—
   (1) These rules may be called the Life Insurance Corporation of India Development Officers (Revision of Certain Terms and Conditions) (Amendment) Rules, 2021.
   (2) They shall come into force from the date of their publication in the Official Gazette.
   
2. In the Life Insurance Corporation of India Development Officers (Revision of Certain Terms and Conditions) Rules, 2009 (hereinafter referred to as the said rules), in rule 2, in clause (i), for the words “specified by the Corporation”, the words “specified by the Board” shall be substituted;
   
3. In rule 6 of the said rules, in sub-rule (7), for the word “Chairman”, the words “Chief Executive” shall be substituted.
   
4. In rule 11 of the said rules, in sub-rule (4), for the word “Corporation”, the word “Board” shall be substituted.
   
5. In rule 13 of the said rules, for the word “Corporation”, the word “Board” shall be substituted.
   
6. In rule 17 of the said rules, for the word “Chairman”, the words “Chief Executive” shall be substituted.

Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Subsection (i), vide number G.S.R.818(E), dated the 12th November 2009 and subsequently amended vide number G.S.R.813(E), dated the 5th October 2010.

Notification

Read More on IRDAI