Power of the Corporation to make schemes.

(1) The Corporation may, by notification in the Gazette, make schemes to introduce passenger group personal accident insurance coverage and improved passenger amenities to its passengers and for social security measures for its employees who have retired or retires from the services of the Corporation. (2) Subject to the provisions of this Act,— (a) in a scheme for the group personal accident insurance coverage, the Corporation may provide,- (i) for the arrangements for insurance coverage to the passengers, with an Indian insurance company, with the prior sanction of the Government; (ii) to categorise the passengers for the purposes of fixing the extent of insurance coverage; (iii) for the procedure to be observed for the award of the amount of insurance; (iv) eligibility of a passenger and his legal heirs for the insurance amount in accordance with the nature of injuries and in the case of death as the case may be; (v) hospitalization of passengers and the procedure for payment of amount; (vi) mechanism to settle any dispute that may arise in the implementation of the scheme; (vii) such other matters for the effective implementation of the scheme. (b) in a scheme for improved passenger amenities, the Corporation may,- (i) specify the passenger amenities that may be made available to the passengers; (ii) provide for the management and maintenance of passenger amenities; (iii) provide for arrangement of any convenience for the better service to the passengers. (c) in the scheme for employees' social security, the Corporation may,- (i) provide for giving pension to its employees who have retired or retires from the services of the Corporation where the Corporation cannot otherwise meet the expenditure for the purpose; (ii) provide for adjustment of any amount for the payment of pension; (iii) provide for temporary arrangement of the amount credited to the Fund under this Act for the benefit of its employees who have retired or retires from the services of the Corporation; (3) Every scheme made under this Act shall be laid before the Legislative Assembly as soon as it is published in the Gazette. Explanation:—For the purposes of this section, the expression "Indian insurance company" shall have the same meaning assigned to that expression in clause (7A) of section 2 of the Insurance Act, 1938 (Central Act 4 of 1938).