(b)     a chartered accountant as defined under clause (b) of Section 2 of the Chartered Accountants Ordinance, 1961 (Ordinance No. X of 1961) or a cost and management accountant as defined under clause (a) of sub-section (1) of Section 2 of the Cost and Management Accountants Act, 1966 (XIV of 1966);

(c)     an individual from the insurance industry of Pakistan; and

(d)     any other person deemed appropriate by the Commission:

          Provided that on the basis of any special reason, the Commission may reduce or increase the number of members for a Committee as may be specified through a notification in the official gazette.

CHAPTER 3

JURISDICTION OF THE COMMITTEE AND ADMISSION OF DISPUTES

5.       Committee to arbitrate certain disputes.–The Committee shall have the authority to arbitrate disputes having pecuniary limits given in the following table:

Nature of the Underlying Insurance Policy

Maximum Sum Insured

Individual life contract

Rupees One Million Only.

Domestic insurance policy

Rupees Two Million Only.

Private motor insurance policy

Rupees One Million Only.

6.  Reporting of the disputes to the Committee.–A policyholder having a dispute with an insurer shall make an application to the Committee, at the respective secretariat, in the Form annexed with these rules, for registration of the dispute and the Committee shall register the same subject to the compliance of requirement of Rule 5.

CHAPTER 4

DISPUTE RESOLUTION PROCESS

7.       Power of the Committee to call for written submissions from the parties.–(1) The Committee shall have the power to call for written submissions from the parties to the dispute.

(2)     Any request for calling the written submissions from the parties shall be made through a notice, in writing:

Provided that any notice issued to call for written submissions from the parties to the dispute shall allow a timeframe of not less than fourteen days from the date of its dispatch to the parties for submission of their written statements.

(3)     The parties shall be bound to provide their written submissions, if any, to the Committee within the allowed timeframe, unless there is any reasonable ground hampering the compliance of the notice.

8.       Power of the Committee to obtain opinion from the experts and professionals.–(1) The Committee may, if deemed appropriate, may call for opinion from the experts and professionals in order to resolve any dispute.

(2)  Any request for calling the opinion from the experts and professionals shall be made in writing.