[Gazette of Pakistan, Extraordinary, Part-II, 12th May, 2005]
S.R.O. 417(I)/2005, dated 11.5.2005, – – – The following draft of the small Disputers Resolution of Committees (Constitution and Procedure) Rules, 2005, which the Federal Government prefers to make in exercise of the powers conferred by section 167 of the Insurance ordinance, 200 (XXXIX of 2000) reads with sub-sections (1) and (2) of Section 117 thereof, is hereby notified for information all persons likely to be appointed thereby and notice is hereby given that the draft will be taken in consideration after thirty days of it publication n the Official Gazette.
2. Any objection or suggestion received from any person within the aforesaid period shall be considered by there Federal Government.
1. Short title and commencement, – – – (1) These rules may be called the Small Disputes Resolution Committees (Constitution and procedure) Rules, 2005.
(2) These shall come into force at once.
2. Constitution of the Committee, – – – A Small Dispute Resolution Committee shall consist of –
(a) One nominee of the Securities and Exchange Commission of Pakistan;
(b) Two nominees of the Insurance Association of Pakistan (IAP), representing life and Non-Life business; and
(c) One nominee not below the rank of Joint Secretary of the Federal Government in Ministry of Commerce who shall act as Chairperson of the Committee and also the head of its Secretariat to be established in the Ministry of Commerce for the purpose; and
(d) One nominee not blows joint Secretary of the Law, Justice and Human Rights Division.
3. Jurisdiction, – – – A small dispute committee shall have jurisdiction to decide a case were the amount of the claim or a portion of the claim, which is in disputer does not exceed five hundred thousand rupees.
Provided that in determining the amount of the claim or apportion of the claim which is in dispute for the purposes of this rule, non account shall be had of any liquidated damages or of any costs incurred in making the claim.
4. Sittings of the Committee, – – – The Committee may hold its sitting at such places or stations as the Chairperson may, decide from time to time, keeping in view the number and nature of claim or dispute.
5. Decision to be in writing, – – – The decision of a Committee shall be given in writing and shall be signed by the Chairperson and the decision shall be expressed in the opinion of majority.
6. Copy of decision to given, – – – The Committee shall giver a copy of the decision to each party to the dispute.
7. Decision to be final, – – – The decision of the Committee on any application shall be final.
8. Committee may any expert to advise, – – – The Committee may invite any expert in insurance to attend any of its meetings or deliberations for the purpose of advising it on any matter under discussion but any person so attending shall have no right to participate in any decision or vote at the said meeting or deliberation.
9. Committee to meet as and when necessary, – – – The Committee shall meet as often as may be necessary for the performance of its functions but not less than four times in a calendar year.