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Repealed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


No suit, prosecution or other legal proceeding shall
lie against any officer of the Central Government or officer or other employee of the Corporation or of the
acquiring company for anything which is in good faith done or intended to be done under this Act.

LAWGIST

# 38 Protection of action taken in good faith