New Delhi: In a bid to replace an ordinance issued last month to resolve all disputes between regulators over hybrid financial products like the popular unit-linked insurance plans (ULIPs), Finance Minister Pranab Mukherjee has introduced a bill in the Lok Sabha today. Introducing the Securities and Insurance Laws (Amendment and Validation) Bill, 2010, Mukherjee said it would address the differences of opinion among statutory regulators, which could arise in future. The ordinance was issued after a public spat between the Securities and Exchange Board of India and the insurance regulator over who had jurisdiction on the ULIPs, the popular investment-cum-insurance products. The bill seeks to amend the Reserve Bank of India Act, 1934, the Insurance Act, 1938, the Securities and Exchange Board of India Act, 1992. The committee will have the finance minister as its chairperson. The Reserve Bank of India Governor, finance secretary, secretary (Financial Services) and chairpersons of the Insurance Regulatory and Development Authority, the Securities and Exchange Board of India, and the Pension Fund Regulatory and Development Authority will be its members.