Similar to Factories Act. Defines mines and provides for regulations to ensure safety and security in mines.

Indian Port Trust Act is applicable to all minor ports other than 13 major ports as defined and covered in Indian Ports (Major Ports) Act, 1963. Each Port Trust has to have its own rules and is governed by the respective State Government. There are minor differences from one state to another as regards time limit for filing a notice of loss on the ports.

There are 13 Major Ports Kandla, Mumbai, Jawaharlal Nehru Port (Nhava Sheva), Marmugao, Kochi, New Mangalore, Tuticorin Chennai, Ennore, Visakhapatnam, Paradip, Kolkata-Haldia and Port Blair. All the major parts fall under the purview of the Major Port Trust Act 1963 which defines the liability of Port Trust Authorities for loss of or damage to goods whilst in their custody and prescribes time limits for filing monetary claim on, or suit against, the Port Trust Authorities.

This Act defines the liability of the Government for loss, mis-delivery, delay of or damage to any postal article in course of transmission by post.

The Act provides that a Policy of Insurance be stamped in accordance with the schedule of rates prescribed.

The Inland Steam-Vessels Act, 1917 as amended in 1977, provides for the application of the provision of Chapter VIII of the Motor Vehicles Act, 1939 in relation to Insurance of mechanically propelled vessels against third party risks. The Act makes it compulsory for owners or operators of inland vessels to insure against legal liability for death or bodily injury of third parties or of passengers carried for hire or reward and for damage to property of third parties. The limits of liability are also prescribed.

The Act applies to the General Insurance Corporation of India and the four Subsidiary companies subject to exceptions, restrictions and limitation as specified by the Central Government under powers conferred by Section 35 of the General Insurance Business (Nationalization) Act. The important provisions of the Act relate, among other things, to registrations, accounts and returns investments, limitations in expenses of Management, prohibition of rebates, powers of investigation, licensing of Agents, licensing of surveyors, advance payment of premium and Traffic Advisory Committee.

The Insurance Law (Amendment) Bill, 2015 has removed archaic and redundant provisions in the legislations and incorporated certain provisions to provide Insurance Regulatory and Development Authority of India (IRDAI) with the flexibility to discharge its functions more effectively and efficiently. Capital Availability : It provides for enhancement of the foreign investment cap in an Indian Insurance Company from 26% to an explicitly composite limit of 49% with the safeguard of Indian ownership and control.The four public sector general Insurance companies, presently required as per the General Insurance Business (Nationalization) Act, 1972 (GIBNA, 1972) to be 100% government owned, are now allowed to raise capital, keeping in view the need for expansion of the business in the rural and social sectors, meeting the solvency margin for this purpose and achieving enhanced competitiveness subject to the Government equity not being less than 51% at any point of time. Consumer Welfare : Introduction of imposing higher penalties ranging Rs. 1 Crore to Rs. 25 Crore on intermediaries/Insurance companies for misconduct and disallowing multilevel marketing of Insurance products in order to curtail the practice of mis-selling.Empowerment of IRDAI : Greater and flexible responsibility is cast upon Insurers for appointing Insurance Agents subject to IRDAI to provides for and regulate their eligibility, qualifications and other aspects. IRDAI is empowered to regulate key aspects of Insurance Company operations in areas like solvency, investments, expenses and commissions and to formulate regulations for payment of commission and control of management expenses.It empowers the Authority to regulate the functions, code of conduct, etc., of surveyors and loss assessors. It also expands the scope of Insurance intermediaries to include Insurance brokers, re- Insurance brokers, Insurance consultants, corporate Agents, third party administrators, surveyors and loss assessors and such other entities, as may be notified by the Authority from time to time. Further, properties in India can now be insured with a foreign Insurer with prior permission of IRDAI; which was earlier to be done with the approval of the Central Government. Health Insurance : The amendment Act defines ‘Health Insurance business’ inclusive of Travel and Personal accident cover and discourages non-serious players by retaining capital requirements for health Insurers at the level of Rs. 100 Crore.Promoting Reinsurance Business in India : The amended law enables foreign Reinsurers to set up branches in India and defines ‘re-Insurance’ to mean “the Insurance of part of one Insurer’s risk by another Insurer who accepts the risk for a mutually acceptable premium”, and thereby excludes the possibility of 100% Ceding of risk to a re-Insurer, which could lead to companies acting as front companies for other Insurers. Further, it enables Lloyds and its members to operate in India through setting up of branches for the purpose of Reinsurance business or as investors in an Indian Insurance Company within the 49% cap.Strengthening of Industry Councils : The Life Insurance Council and General Insurance Council have now been made self-regulating bodies by empowering them to frame bye-laws for elections, meetings and levy and collect fees etc. from its members. Inclusion of representatives of self-help groups and Insurance cooperative societies in Insurance councils has also been enabled to broad base the representation on these Councils.Robust Appellate Process : Appeals against the orders of IRDAI are to be preferred to SAT as the amended Law provides for any Insurer or Insurance intermediary aggrieved by any order made by IRDAI to prefer an appeal to the Securities Appellate Tribunal (SAT).Act: Insurance Regulatory and Development Authority Act, 1999 : The objects are stated in the Act as follows: An Act to provide for the establishment of an authority to protect the interest of the holder of Insurance Policy, to regulate, promote and ensure orderly growth of Insurance industry and for matter connected therewith or incidental thereto and future to amend the Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and the general Insurance business (Nationalization) act, 1972. The purpose of forming the IRDA (01) To protect the interest of Policyholders and to secure their fair treatment (02) To bring about speedy and orderly growth of the insurance industry including annuity an superannuation payments), for the benefit of the common man, and to provide long term funds for accelerating growth of the economy. (03) To set, promote, monitor and enforce high standards of integrity, financial soundness, fair dealing and competence of those it regulates. (04) To ensure that insurance customers receive precise, clear and correct information about products and services and to make them aware of their responsibilities and duties in this regard. (05) To ensure speedy settlement of genuine claims, to prevent insurance frauds and other malpractices and put in place effective grievance redrssal machinery (06) To promote fairness, transparency and orderly conduct in financial markets dealing with insurance and build a reliable management information system to enforce high standards of financial soundness amongst market players (07) To take action where such standards are inadequate or ineffectively enforced. (08) To bring about optimum amount of self-regulation in day to day working of the industry consistent with the requirements of prudential regulation.

This Act codifies the law relating to Marine Insurance. With a few exceptions this Act closely follows the UK marine Insurance Act, 1906.

The Act also provides protection to ship-owners. For example, the liability of a ship-owner can be limited to certain maximum sums for certain losses, provided the incident giving rise to such claims has arisen without the actual fault or privity of the ship-owner. These claims may relate to loss of life, personal injury, or damage to property on land or water. The Act also confers the obligation on the ship owner to send his ship to sea in a seaworthy and safe condition.