Select the Correct Statement.
1
The Policy Document has to be signed by a Competent Authority, but need not be compulsorily stamped according to Indian Stamp Act.
2
The Policy Document has to be signed by a Competent Authority, and should be stamped according to Indian Stamp Act.
3
The Policy Document need not be signed by a Competent Authority, but should be stamped according to Indian Stamp Act.
4
The Policy Document neither needs to be signed by a Competent Authority, nor it needs to be compulsorily stamped according to Indian Stamp Act.
5
The Policy Document has to be signed by a Competent Authority, and should be stamped according to Insurance Act.