Insurance Act, 1938 · Chapter II: Provisions Applicable to Insurers · Investment, loans and management
Section 31B: Power to restrict payment of excessive remuneration
No insurer shall in respect of insurance business transacted by him, shall pay to any person by way of remuneration, whether by way of commission or otherwise in excess of such sum as may be specified by the regulations.]
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 31B
No Supreme Court judgment in our database cites this section yet.