Property_Manu - Final - The New India Assurance Co. Ltd.

The New India Assurance Co.Ltd.(b)(c)if the originator or the addressee does not have a place of business, his usualplace of residence shall be deemed to be the place of business;“usual place of residence”, in relation to a body corporate, means the placewhere it is registered.14. Secure electronic record.- Where any security procedure has been applied to anelectronic record at a specific point of time, then such record shall be deemed to be asecure electronic record from such point of time to the time of verification.15. Secure electronic signature.- An electronic signature shall be deemed to be asecure electronic signature if –(i)(ii)the signature criterion data, at the time of affixing signature, was under the exclusivecontrol of signatory and no other person; andthe signature creation data was stored and affixed in such exclusive manner asmay be prescribed.Explanation. – In case of digital signature, the “signature creation data” means theprivate key of the subscriber.16. Security procedures and practices.- The Central Government may, for the purposesof sections 14 and 15, prescribe the security procedures and practices:Provided that in prescribing such security procedures and practices, the CentralGovernment shall have regard to the commercial circumstances, nature of transactionsand such other related factors as it may consider appropriate.”Pursuant to section 16 of the IT Act, certain rules have been prescribed of which TheInformation Technology (Use of Electronic Records and Digital Signatures) Rules, 2004and The Information Technology (Securities Procedure) Rules, 2004 are of relevance,and the applicable sections have been extracted below.The Information Technology (Use of Electronic Records and Digital Signatures)Rules, 20042. Definitions. – In these rules, unless the context otherwise requires,-(b)“electronic record” means data, record or data generated, image or sound stored,received or sent in an electronic form or micro film or computer generated microfiche;”92 MANUAL ON PROPERTY