Page 41 - Insurance Times September 2015 SAMPLE

For example, in the content, Chapter XI relating to motor vehicles against third i. Deletion of the provisions relating
party risks starts from Section 231 whereas,the same starts with Section 225 in to No-Fault liability
the provision of the Draft Bill 2015. This leads to a lot of confusion. For clarity,
we have used the Sections as appearing against the provisions and not as ii. Deletion of compulsory coverage
appearing in the content thereof. to driver, conductor or ticket
examiner in public service vehicle
The most important and fundamental change as apparent in the Draft Bill, 2015 and workman being carried in the
is replacement of the term "accident" with "crash". goods vehicle.

6. Difference between Draft Bill, 2014 and Draft Bill, 2015 - Though iii. Deletion of the power to override
in MV Act, 1988 in case of conflict
apparently there do not appear to be much change between the Draft Bill, 2014 with other law.
and Draft Bill, 2015, but actually there exists substantial change between both
the Draft Bills so far as liability and duty of insurer is concerned. iv. Insertion and or changes in
important definitions such as
Comparative chart of the MV Act, 1988, Draft Bill, 2014 "Goods, Property, Passenger,
and Draft Bill, 2015 Goods vehicle, Transport vehicle
etc."
M V Act Draft Bill Draft Bill M V Act Draft Bill Draft Bill
1988 2014 2015 1988 2014 2015 v. Unlimited Third party property
141 162 246 243 damage.
142 Deleted Deleted 163 M*241
143 Deleted Deleted 163-A M*244(4) 244 vi. Inclusion of coverage to the
144 Deleted Deleted 163-B 247 passenger in 'Transport Vehicle'.
145 Deleted Deleted New Deleted
146 164 Deleted 245 vii. Detailed procedure for converting
147 228 225 165 248 246 the Police Report into application
148 229 226 166 249 247 for payment of compensation.
NEW 230 227 167 250 248
149 231 228 168 251 249 viii. Additional power for enforcement
150 232 229 169 252 250 of the Tribunal award by way of
151 233 230 NEW 253 251 attachment of the bank account.
152 234 231 NEW 254 252
153 235 232 NEW 255 253 ix. Creation of new funds (i) to
154 236 233 NEW 256 254 provide treatment to the victims
155 237 234 170 257 255 during 'Golden Hour' and (ii)
156 M* 234 (5) M*231(5) 171 258 256 Motor Accident Fund to provide
157 238 235 172 259 257 compulsory insurance to victims of
158 239 236 173 260 258 road accident.
159 240 237 174 261 259
NEW 241 238 175 262 260 x. Creation of National Authority.
160 Deleted Deleted 176 263 261
161 242 239 264 262 8. Important changes in the
243 240 265 Draft Bill, 2015.
*Merger 244 241
In addition to the proposed changes in
7. Important changes in the Draft Bill, 2014. the Draft Bill of 2014, the present
Draft Bill, 2015 have the following new
and additional features, amongst
others.

8-1- S.227 Draft Bill, 2015 -

Corresponding to S. 147 M V Act, 1988
requirement of policies and limits of
liability.

The Insurance Times, September 2015 37

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