Section 5 of IRDAI Act : Section 5: Tenure Of Office Of Chairperson And Other Members
IRDAI Act
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Explanation using Example
Imagine that Ms. Sharma is appointed as the Chairperson of the Insurance Regulatory and Development Authority (IRDA). According to Section 5(1) of the IRDA Act, Ms. Sharma will serve a term of five years starting from the date she assumes her office. If she wishes to continue beyond this period, she may be considered for reappointment. However, once she reaches the age of 65, she will no longer be eligible to serve as the Chairperson, even if her five-year te...
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