A) The policy document has to be signed by a competent authority, but need not be compulsorily stamped according to the Indian Stamp Act
B) The policy document has to be signed by a competent authority and should be stamped according to the Indian Stamp Act
C) The policy document need not be signed by a competent authority, but should be stamped according to the Indian Stamp Act
D) The policy document neither needs to be signed by a competent authority nor it needs to be compulsorily stamped according to the Indian Stamp Act
✅ ANSWER: B
According to the Indian Stamp Act, the policy document has to be signed by a competent authority as well as stamped. Hence, option (2) is correct.
According to the Indian Stamp Act, the policy document has to be signed by a competent authority as well as stamped. Hence, option (2) is correct.