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Coll 28/39(2) ‘Persia. Printed Correspondence, 1937–’ [61v] (122/320)
The record is made up of 1 file (158 folios). It was created in 11 Oct 1937-25 Nov 1942. It was written in English and French. The original is part of the British Library: India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. Records and Private Papers Documents collected in a private capacity. .
Transcription
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translation.
DECREE No. 1125.
Dated 26-7-16 {18th October 1937).
Ministry of Commerce.
In accordance with the proposal No. 23389 of 26-7-16 (18-10-37)
submitted by the Ministry of Commerce, and in view of the authori
ties granted under Article 8 of the Companies Registration Law and Article
10 of the Supplementary Budget Law of 1314, the following decree was
approved by the Council of Ministers at the meeting held on 18-10-37.
Article 1 .—In future, no Insurance Company, foreign or local, will have
the right to effect insurance in Iran unless they adopt the following condi
tions :—
(а) To procure the permit of the Council of Ministers before registration
in Iran.
(б) To have a minimum capital of Ten Million Rials.
(c) Their financial position to be considered satisfactory by the Ministry
of Commerce.
Note. —Companies who are registered in Iran at this date, and are writing insurance
are excepted from the acquisition of the Permit of the Council of Ministers described in Item
(a) above.
Article 2. —Companies which have more than 10 per cent, of their capital
handled by Foreign subjects must deposit a Guarantee for One Million Rials.
This guarantee must be signed by one of the Banks established in Iran and
accepted by the Government. It must be declared in this guarantee that in
the event of the Insurance Company procrastinating in the discharge of its
legal liabilities, subject to the conclusive order of the competent court, recovery
will be made from the guarantor Bank for the claims and legal fines, up to the
amount of guarantee.
Insurance Companies can deposit cash or valuable documents instead of
guarantee.
If the guarantee is given for a certain period it must be renewed before its
date of expiry.
In the event of the Company’s dissolution or retirement from Iran, the
Guarantee or deposit will be returned, by the order of the Ministry of Commerce,
after the formalities indicated under Article (II) of this decree are executed.
Article 3. foreign Insurance Companies must keep the following
amounts in Iran :—
(a) In Life Insurance—An amount equal to the mathematical reserve
of the business concluded in Iran.
(b) In other classes—50 per cent, of the gross premium collected during
the preceding year.
The above premium includes the insurances effected direct and the re
insurances accepted in Iran ; but the reinsurances placed in Iran and the rein
surance premiums received from the “ Iran ” Societe Anonyme d’assuranco
will be deducted.
Transfer of the balance of the premiums to abroad is free in accordance
with the regulations.
So long as the transfer of money to abroad is subject to the Exchange
Regulations, if the Insurance Companies operating in Iran sustain heavy
losses, the Ministry of Commerce can, exceptionally, allow payment of the
amounts of loss out of the 50 per cent, mentioned above.
About this item
- Content
Printed correspondence from the Government of India’s Foreign and Political Department (later referred to as the External Affairs Department), collated into yearly collections under the heading ‘Iran Series’. The original correspondence was sent by British representatives in Iran (chiefly the British Legation in Tehran) to the Foreign Office. The correspondence concerns: the announcement of laws, decrees, regulations, and budgets by the Government of Iran, the texts of which were frequently published in the newspaper Le Journal de Tehran ; reports from British consular officials covering a range of subjects, including commercial activities, foreign relations and the commercial activities of foreign individuals and companies in Iran, provincial affairs, and the activities of the Shah; in 1939 and 1940, reports concerning the impact of the Second World War on Iran, with a large number of reports from the Press Attaché to the British Legation in Tehran, reporting the dissemination of propaganda and public opinion in Iran.
At the end of the file is a single item of original correspondence, sent by the Secretary to the Government of India. Dated 24 August 1942, it announces the discontinuation of the printing of the Persia [Iran] series for the duration of the war (f 159).
A large number of items in the file are in French. These include the texts of Iranian Government laws, regulations and announcements that were published in Le Journal de Tehran .
The file includes a divider, which gives a list of correspondence references contained in the file by year. This is placed at the back of the correspondence.
- Extent and format
- 1 file (158 folios)
- Arrangement
The file’s contents are arranged in approximate chronological order, from the earliest item at the front to the latest at the end.
- Physical characteristics
Foliation: the foliation sequence (used for referencing) commences at the front cover with 1, and terminates at the inside back cover with 160; these numbers are written in pencil and are located in the top right corner of the recto The front of a sheet of paper or leaf, often abbreviated to 'r'. side of each folio.
- Written in
- English and French in Latin script View the complete information for this record
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Copyright: How to use this content
- Reference
- IOR/L/PS/12/3443
- Title
- Coll 28/39(2) ‘Persia. Printed Correspondence, 1937–’
- Pages
- 42r, 48v:49v, 61v:62v, 65v:67v, 69v:70v, 78r:78v, 86r:87r, 89v:90r, 118v:123v, 124v, 131r:131v, 142r:144v
- Author
- Government of Iran
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