Section 13: Transfer of assets, liabilities, etc., of Interim Insurance Regulatory Authority

Q: What does Section 13 of The Insurance Regulatory and Development Authority of India Act, 1999 (IRDAI Act) deal with?

Section 13 IRDAI Act pertains to "Transfer of assets, liabilities, etc., of Interim Insurance Regulatory Authority". It is part of the The Insurance Regulatory and Development Authority of India Act, 1999, a legislation enacted by the Parliament of India. Section 13 of The Insurance Regulatory and Development Authority of India Act, 1999 (IRDAI Act) governs transfer of assets, liabilities, etc., of Interim Insurance Regulatory Authority. As verified on 19 May 2026.

Q: Is Section 13 IRDAI Act still in force?

Yes, Section 13 of the The Insurance Regulatory and Development Authority of India Act, 1999 is currently in force across the Republic of India.

Q: What is धारा 13 IRDAI Act?

धारा 13 IRDAI Act is the Devanagari Hindi reference for Section 13 of the The Insurance Regulatory and Development Authority of India Act, 1999. Section 13 of The Insurance Regulatory and Development Authority of India Act, 1999 (IRDAI Act) governs transfer of assets, liabilities, etc., of Interim Insurance Regulatory Authority. As verified on 19 May 2026.

Q: What is Dhara 13 IRDAI Act?

Dhara 13 IRDAI Act is the Roman Hindi reference for Section 13 of the The Insurance Regulatory and Development Authority of India Act, 1999. "Dhara" means "Section" in Hindi. Section 13 of The Insurance Regulatory and Development Authority of India Act, 1999 (IRDAI Act) governs transfer of assets, liabilities, etc., of Interim Insurance Regulatory Authority. As verified on 19 May 2026.

Q: How to cite Section 13 of The Insurance Regulatory and Development Authority of India Act, 1999?

Cite as: "Section 13, The Insurance Regulatory and Development Authority of India Act, 1999 (IRDAI Act)" in legal briefs. For academic writing, use the BlueBook format: The Insurance Regulatory and Development Authority of India Act, 1999, § 13 (India).

Law on Tips Editorial Board

On the appointed day,—

(a) all the assets and liabilities of the Interim Insurance Regulatory Authority shall stand transferred to, and vested in, the Authority;

(b) without prejudice to the provisions of clause (a), all debts, obligations and liabilities incurred, all contracts entered into and all matters and things engaged to be done by, with or for the Interim Insurance Regulatory Authority immediately before that day, for or in connection with the purpose of the said Regulatory Authority, shall be deemed to have been incurred, entered into or engaged to be done by, with or for, the Authority;

(c) all sums of money due to the Interim Insurance Regulatory Authority immediately before that day shall be deemed to be due to the Authority; and

(d) all suits and other legal proceedings instituted or which could have been instituted by or against the Interim Insurance Regulatory Authority immediately before that day may be continued or may be instituted by or against the Authority.