# 14 Power of Corporation to modify contracts of life insurance in certain cases
The corporation may, having regard to the financial condition on the appointed day of any insurer whose controlled business has been transferred to an vested in the Corporation, reduce the amounts of insurance under contracts of life insurance entered into by such insurer before the 19th day of January, 1956, in such manner and subject to such conditions as it thinks fit:
Provided that no such reduction shall be made except in accordance with a scheme prepared by the Corporation in this behalf and approved by the Central Government.
Download our fully-offline, High speed android app.- Click here
All sections
10
Provisions as to composite insurers11
Transfer of service of existing employees of insurers to the Corporation12
Transfer of services of existing employees of chief agents of insurers to the Corporation in certain cases13
Duty to deliver possession of property and documents relating thereto15
Right of Corporation to seek relief in respect of certain transactions of the insurer16
Compensation for acquisition of controlled business17
Constitution of Tribunals
Lawyer's Registry
Click here to register for Lawgist Lawyer's Registry