ASKARI GENERAL INSURANCE COMPANY LTD. versus EXECUTIVE DIRECTOR (INSURANCE)
Section 33 Insurance Ordinance (2000 X Constitution of 2000), Sections 156, 165 and 166 Insurance Rules, 2002, R23 ??? Issuance of an Objection Certificate for Pak Air Craft Insurance \ Issuance of an Objection Certificate from the Company On the request of the issuance of the insurance of four PAF aircraft, the Commission told the company that the insurance of PAF aircraft must be kept with the National Insurance Company Limited (NICL), under section 166 of the Insurance Ordinance. 2000 company applied for temporary approval of the commission. 100% of the risk, namely, the aircraft, in fact, the company wrote a letter to the third party's legal liability insurance corporation through the Air Craft Commission, under which the company accepted the slip by NICL. / Regret slip was directed to submit required slip instead. Since non-government funds were being financed for the project, no objection certificate was required, the showcase notice was issued to the company and commissions under Sections 166 and 156 of the Insurance Ordinance 2000 The executive director of the company fined the company's chief executive officer Rs 1 lakh if he was not satisfied with the company's response, and fined the company Rs 200,000. Under Section 166 of the Insurance Ordinance 2000, the aircrafts, public property and all insurance business in question were, third party liability insurance. In these circumstances the third party liability insurance can only be covered with clause 165 of the insurance ordinance. , 2000 was applied in a situation when a person and company located outside Pakistan were located in Pakistan
Related judgments — Securities and Exchange Commission of Pakistan, 2015
