Title: Introduction of the Insurance Regulatory and Development Authority Bill, 1999.
11.14 hrs
MR. SPEAKER: Item No. 13, Shri Yashwant Sinha.
SHRI SOMNATH CHATTERJEE (BOLPUR): This is a very controversial measure. We have given notices on this, and we have also given a notice on a very important matter. … (Interruptions)
THE MINISTER OF FINANCE (SHRI YASHWANT SINHA): Sir, I beg to move for leave to introduce a Bill to provide for the establishment of an Authority to protect the interests of holders of insurance policies, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto and further to amend the Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and the General Insurance Business (Nationalisation) Act, 1972. … (Interruptions)
MR. SPEAKER: Motion moved :
“That leave be granted to introduce a Bill to provide for the establishment of an Authority to protect the interests of holders of insurance policies, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto and further to amend the Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and the General Insurance Business (Nationalisation) Act, 1972.”
SHRI SOMNATH CHATTERJEE : Why should a new procedure be followed today? We have given notices on a very important matter. We are not being allowed to speak. We are strongly objecting to it. This is not the procedure.
MR. SPEAKER: I am allowing Shri Rupchand Pal to present his petition.
… (Interruptions)
SHRI SOMNATH CHATTERJEE : Why is a new procedure being evolved today? We have given notices for `Zero Hour”” matters. This is not the procedure.
MR. SPEAKER: I am allowing Shri Rupchand Pal now because unless the Minister introduces the Bill, how can a Member speak?
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*Published in the Gazette of India, Extraordinary, Part-II, Section ,dated 8.10.99
SHRI SOMNATH CHATTERJEE : I want to raise an important matter today. The House is not there to only accommodate the Government.
MR. SPEAKER: I called Shri Rupchand Pal.
SHRI SOMNATH CHATTERJEE : This is not the way. It looks as if this House is only for the Government.
MR. SPEAKER: I called Shri Rupchand Pal.
SHRI RUPCHAND PAL (HOOGLY): Sir, I am on a point of order.
SHRI VARKALA RADHAKRISHNAN (CHIRAYINKIL): Sir, I have given a notice.
SHRI RAJESH PILOT (DAUSA): Mr. Speaker, Sir, why do you not call us one by one so that we will sit down?
MR. SPEAKER: I will give my ruling.
SHRI RUPCHAND PAL : Sir, my point of order is that in today””s revised List of Business, in item no. 9 it was listed that I am to present a petition signed by Shri R.P.Manchanda and others representing the All India Insurance Employees Association, All India LIC Employees Federation, the General Insurance Employees All India Association against the move to privatise the Indian Insurance Industry and opening up of the Insurance Sector to foreign companies through the Insurance Regulatory and Development Authority Bill, 1999.
It has been put like that in today””s Revised List of Business. In the petition itself I have mentioned that there is a strong opposition to this move. I want to present the protest signed by more than 1.5 crore people of this country covering all sections of the society and covering all the States which would be brought in trucks and unloaded for the consideration of the petition Committee in the Parliament House Annexe today.
Sir, I had met you and appealed to you that before the hon. Minister proceeds with the introduction of the Bill I should be allowed to present the petition. It is because as per the petition rule it is said that any matter pending before the House — the matter is pending before the House — and also according to annexure — you could find that in the format, I had submitted that the Minister of the Government should not proceed with the introduction. But my plea, which I had made according to the rules of procedure, has been ignored. The hon. Minister cannot introduce the Bill before I submit the petition. Now I want to present the petition and only after that the Bill can be introduced, which again we shall oppose … (Interruptions)
SHRI PRAMOD MAHAJAN: Sir, the rule clearly says that a petition can only be presented after the Bill has been introduced … (Interruptions)
SHRI RUPCHAND PAL; No … (Interruptions)
SHRI ANIL BASU (ARAMBAGH): Sir, it seems that the hon. Minister for Parliamentary Affairs has some hearing problem … (Interruptions)
MR. SPEAKER; I have allowed Shri Rupchand Pal only. You please take your seat.
… (Interruptions)