The General Insurance Business (Nationalisation) Act

Acquiring companies to have the exclusive privilege of carrying on general insurance business

Exclusive privilege of Corporation and acquiring companies to cease

Omitted

Acquiring companies and income-tax

Power to reduce amounts of insurance in certain ease

Right of acquiring company to seek relief in respect of certain transactions

Duty to deliver possession of property and documents relating thereto

Penalty for withholding property, etc

Officers and employees of Corporation or of acquiring companies to be public servants

Indemnit

Dissolution of Corporation and acquiring companie

Reference to existing insurer in other law

Application of Insurance Act

Exemption

Vacancies, etc., not to invalidate proceedings

Protection of action taken in good faith

Power to make rules

Repealed


MISCELLANEOUS


Every officer of the Central Government and every officer or other employee of the
Corporation and of any acquiring company shall be indemnified by the Central Government or the
Corporation or the acquiring company, as the case may be, against all losses and expenses incurred by
him in, or in relation to, the discharge of his duties under this Act except such as have been caused by his
own wilful act or default.

LAWGIST

# 32 Indemnit