The INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY ACT, 1999

INSURANCE REGULATORYAND DEVELOPMENT AUTHORITY

Section 7: Salary and allowances of Chairperson and members.

(1) The salary and allowances payable to, and other terms and conditions of service of, the members other than part-time members shall be such as may be prescribed.

(2) The part-time members shall receive such allowances as may be prescribed.

(3) The salary, allowances and other conditions of service of a member shall not be varied to his disadvantage after appointment.