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Agricultural Insurance Law (No. 27 of 1975).

Country/Territory
Sri Lanka
Document type
Legislation
Date
1973
Source
FAO, FAOLEX
Long title
A Law to provide for the establishment of a Board known as the Agricultural Insurance Board for undertaking the business of agricultural insurance for specified crops and livestock, to repeal the Crop Insurance Act, No. 13 of 1961; and to provide for matters connected therewith or incidental thereto.
Subject
Agricultural & rural development
Keyword
Agricultural development Institution Special fund Subsidy/incentive
Geographical area
Asia, Asia and the Pacific, Indian Ocean, South Asian Seas, Southern Asia
Abstract

There shall be established a Agricultural Insurance Board as a body corporate under section 2. The Board shall operate comprehensive agricultural insurance scheme for the benefit of farmers in respect of paddy crop and other notified crops and livestock. This scheme shall indemnify the farmers against loss, provide a stabilising effect on farm income, and promote agricultural production. The Board may exercise all or any of the powers specified in section 10. Persons cultivating paddy crop shall be deemed to have entered into a contract of insurance against loss with the Board as of a specified date. The Minister may, from time to time, determine the crops and species of livestock in respect of which voluntary insurance shall be provided by the Board (sect. 17). There shall b established an Agricultural Insurance Fund under section 21. (41 sections)

Full text
English

References - Legislation

Repealed by

Agricultural and Agrarian Insurance Act (No. 20 of 1999).

Legislation | Sri Lanka | 1999

Keyword: Institution, Agricultural land, Special fund

Source: FAO, FAOLEX