Section 3. Section 64UD, after sub-section (1), insert the following:

33. Section 64UD, after sub-section (1), insert the following: — "Provided that the Chairperson of the Authority shall become the Chairman of the Advisory Committee with effect from the commencement of the Insurance Regulatory and Development Authority Act, 1999 and function as such, and any Chairman of the Tariff Committee holding office immediately before such commencement shall cease to be the Chairman.".