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Section 73 - Inland Vessels Act, 2021
The Inland Vessels Act, 2021
73. Powers of Central Government to make rules for Chapter XII.-
The Central Government shall, by rules made in this behalf, specify the terms, conditions and procedures to be complied with by the insurers and insured including-
(a) cover note of insurance and its validity;
(b) rights and duties of the insured;
(c) procedures and processes involved in processing of claims;
(d) duties and obligations of the insurers to satisfy the judgments and awards;
(e) rights of claimants, liability of the insured and the insurers in special circumstances such as the insured becomes insolvent and the procedures to be followed;
(f) procedures, processes and minimum terms of conditions for the settlement between the insurers and insured persons;
(g) procedures to be followed in the transfer of certificate of insurance; and
(h) such other matters directly or indirectly related to insurance of mechanically propelled vessels, for the purposes of effective implementation and administration of this Chapter.
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