section 8
Operator to maintain insurance or financial securities.
The Civil Liability for Nuclear Damage Act, 2010Infrastructure201049 sections7 chapters
Chapter II LIABILITY FOR NUCLEAR DAMAGE
Statutory text
- (1) The operator shall, before he begins operation of his nuclear installation, take out insurance policy or such other financial security or combination of both, covering his liability under sub-section (2) of section 6, in such manner as may be prescribed.
- (2) The operator shall from time to time renew the insurance policy or other financial security referred to in sub-section (1), before the expiry of the period of validity thereof.
- (3) The provisions of sub-sections (1) and (2) shall not apply to a nuclear installation owned by the Central Government. Explanation.--For the purposes of this section, "financial security" means a contract of indemnity or guarantee, or shares or bonds or such instrument as may be prescribed or any combination thereof.
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