New Delhi, Sep 18 (PTI) The government on Friday said it has relaxed the stockholding limit for bulk sugar consumers to 30 days from the existing 15 days, as the festive season approaches and demand is expected to pick up. Currently, bulk consumers who use more than 10 tonnes of sugar a month as a raw material — for production, consumption or other industrial use — are allowed to hold stock for up to 15 days of their requirement. This limit will now be doubled, the Department of Food and... ... ...

SCHEDULE - 16 [Refer Regulation 4 (5)] :- 1. Conduct in matters relating to clients relationship: Every IWA shall :- (a) conduct its dealings with Prospects / Policyholders with utmost good faith and integrity at all times; (b) act with care and diligence; (c) treat all information supplied by the prospects as completely confidential to themselves and to the insurer(s) to whom the business is being offered; (d) take appropriate steps to maintain the ... ... ...

SCHEDULE - 15 [Refer Regulation 4 (5)] IWA shall :- (1) display Certificate of registration obtained from the Authority and details of validity of Certificate of registration on its web site; (2) prominently display the names of insurers with whom it has an agreement to refer leads in the Home page of the website; (3) display the list of products that are available for information on its designated website; (4) display specific information that the details of the prospects ... ... ...

SCHEDULE - 14 [Refer Regulations 3(1)(h) and 23] 1. Insurance Outsourcing Services that can be undertaken by IWAs (a) Insurance Outsourcing of the activities mentioned herein shall be at the discretion of the Insurers. However, execution of services shall remain to be Core Activity to be carried out by the Insurers; (b) Insurance Outsourcing relationships between Insurers and IWAs shall be governed by written contracts between the Insurer and the IWA that clearly describe... ... ...

SCHEDULE - 13 [Refer Regulation 22] : 1. Scope and applicability - This covers tele-marketing and distance marketing activities, except online sale- (a) Tele-marketing and Distance marketing includes every activity/stage of solicitation and sale of insurance products through the following modes: (i) Voice mode, which includes telephone-calling; (ii) Short Messaging service (SMS); (iii) Electronic mode which includes e-mail and interactive television (... ... ...

SCHEDULE - 12 [Refer Regulation 20] 1. IWA shall use a Lead Management Systems (LMS) capable of recording the full details of the visitors to the designated website of the IWA and the Leads generated including the preference of the visitor. 2. LMS data shall be shared with the Insurance companies that have signed agreements with the IWAs. 3. LMS should ensure Transparency and Accountability. 4. IWAs shall disclose prominently on the home page that the Prospect's / visitor&... ... ...

SCHEDULE - 11 [Refer Regulation 19] 1. IWAs shall disclose prominently on the home page, a notice that: (a) the Prospect's / visitor's particulars could be shared with insurers. (b) "the information displayed on its website is of the insurers with whom it has an agreement" 2. Product information displayed by IWAs shall be authentic and be based solely on information received from insurers; 3. IWAs shall not display ratings, rankings, endorsements or best... ... ...

SCHEDULE - 10 [Refer Regulation 24] 1. The IWA shall :- (a) Display Information in their designated website pertaining to the products of Insurers who have signed agreement with the IWAs; (b) Ensure to carry out the activities for the purpose of Lead Generation for insurers; (c) Ensure that the information systems, (both hardware and software) including the aggregation website(s) / portals, Lead Management System and the Data Centers hosting the website(s) / ... ... ...

SCHEDULE - 9 [Refer Regulation 25] 1. The Authorized Verifier shall: (a) be on the rolls of either the IWA or the Tele-marketer and resident in India; (b) solicit insurance business only through tele-marketing/distance marketing mode. (c) receive inbound telephone calls from prospects/ policyholders seeking assistance or clarifications on the insurance products they want to buy. (d) sell an insurance product based on the need analysis of the prospect... ... ...

SCHEDULE - 8 [Refer Regulation 24] 1. An IWA shall disclose to the Authority, following information within thirty (30) days of its occurrence namely- (a) any change in the information or particulars previously furnished, which have a bearing on the Certificate of registration granted to it; (b) proceedings initiated against them by other regulatory or government bodies within a reasonable time but not later than thirty (30) days from the initiation of such proceedings... ... ...

SCHEDULE - 7 [Refer Regulation 15] : - 1. The insurance cover must indemnify an IWA against :- (a) any error or omission or negligence on its part or on the part of its employees and directors/designated partners; (b) any loss of money or other property for which the IWA is liable in consequence of any fraudulent act or omission; (c) any loss of documents and costs and expenses incurred in replacing or restoring such documents; (d) dishonest or fraudu... ... ...

SCHEDULE - 6 [Refer Regulation 9 (5)] RENEWAL CERTIFICATE OF REGISTRATION Registration number: The Certificate of registration of ____ (name of entity)__________ to act as Insurance Web Aggregator is hereby renewed under Regulation 9 of the IFSCA (Insurance Web Aggregator) Regulations, 2022 and the Insurance Act, 1938 (4 of 1938). (2) Issued on ____day of of ____Two thousand_________ . (3) This certificate of renewal of registration shall be valid from (dd/mm/yyyy) to (dd/mm/yy... ... ...

SCHEDULE - 5 [Refer Regulation 9] : 1. Self-Certified undertaking in the format given in Annexure "1" 2. Confirmation of place of hosting website such as registered office, operations office, only if there is a change; 3. List of persons who have control over or responsibility for the website contents in relation to insurance web aggregation, only if there is a change; 4. Renewal Training Certificates of Principal Officer and Authorised Verifiers. 5. Any other document / inf... ... ...

SCHEDULE - 4 [Refer Regulation 9] APPLICATION FOR RENEWAL OF CERTIFICATE OF REGISTRATION OF IWA Instructions for filling up the form: 1) It is important that before this RENEWAL application form is filled in, the IFSCA (IWA) Regulations 2022 are studied carefully. 2) Applicants must submit a duly completed RENEWAL application form together with, supporting documents to the Authority. 1. PARTICULARS OF THE APPLICANT 1.1 Name of the Applicant:__________________________ ... ... ...

SCHEDULE - 3 [Refer Regulation 7 (2)] CERTIFICATE OF REGISTRATION INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY CERTIFICATE OF REGISTRATION Registration number: In exercise of the powers conferred by section 12 and 13 of IFSCA Act, 2019 read with sub-section (1) of section 42D of the Insurance Act, 1938 (4 of 1938), the Authority hereby grants a Certificate of registration to (entity name) to act as Insurance Web Aggregator. (1) This Certificate of registration shall be... ... ...

SCHEDULE - 2 [Refer Regulation 5 (2)] 1. Copy of the Certificate of registration issued by the Registrar of Companies. 2. Copies of Memorandum of Association and Articles of Association or LLP Agreement duly certified by Chartered Accountant. 3. Copy of PAN Card of the Company/LLP 4. Curriculum Vitae of Directors / Designated Partners of LLP with copies of Qualification Certificates. 5. Curriculum Vitae of Principal Officer and KMP with copies of Qualification Certificates.... ... ...

SCHEDULE - 1 [Refer Regulation 5 (1)] FORM - A APPLICATION FOR GRANT OF CERTIFICATE OF REGISTRATON AS AN IWA Instructions for filling up the form: 1) Applicants must submit a duly completed application form together with supporting documents to the Authority. 2) Information which needs to be supplied in more details may be given on separate sheets which should be attached to the application form. 1. PARTICULARS OF THE APPLICANT 1.1 Name of the Applicant:... ... ...

Regulation 27 empowers the Chairperson to issue necessary clarifications where difficulties arise in implementing the regulations. The Chairperson may also relax conditions mentioned in the regulations, provided reasons for the relaxation are recorded in writing. The provision forms part of the miscellaneous regulatory framework for insurance web aggregators.

Disciplinary action may be taken against an insurance web aggregator for non-compliance with applicable statutory, regulatory, circular or guideline requirements, or where its activities are not in the interest of insurance business in International Financial Services Centres. Measures include suspension or cancellation of the certificate, subject to an opportunity for the insurance web aggregator to make written submissions.

Regulation 25 requires an Authorized Verifier to discharge the roles and responsibilities specified in Schedule 9 under the International Financial Services Centres Authority (Insurance Web Aggregator) Regulations, 2022. The verifier's functions are governed by the duties prescribed in that Schedule for carrying out assigned roles and responsibilities under the miscellaneous provisions.