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Repealed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


Subject to such exceptions, restrictions and limitations, if any,
as the Central Government may, by notification, specify in this behalf, the Insurance Act shall apply to or
in relation to the Corporation and every acquiring company as if the Corporation or the acquiring
company, as the case may be, were an insurer carrying on general insurance business within the meaning
of that Act.

LAWGIST

# 35 Application of Insurance Act