(1)

For the efficient performance of its duties, the Life Insurance Council or the General Insurance Council as the case may be, may—

(a) appoint such officers and servants as may be necessary and fix the conditions of their service;

(b) determine the manner in which any prescribed fee may be collected;

(c) keep and maintain up-to-date, a copy of list of all insurers who are members of the either Council;

(d) make bye-laws for—

(2)

The Life Insurance Council or the General Insurance Council may authorise the Executive Committee concerned to exercise any of the powers conferred on the Life Insurance Council or the General Insurance Council, as the case may be, under clause (a), clause (b) , clause (c) of sub-section (1).