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Title: General Insurance Business (Nationalisation) Amendment Act, 2002
State: Central
Year: 2002
Preamble1 - GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT ACT, 2002 Section1 - Short title and commencement Section2 - Amendment of section 9 Section3 - Insertion of new section 10A Section4 - Amendment of section 18 Section5 - Amendment of section 19 Section6 - Amendment of section 22 Section7 - Amendment of section 24A Section8 - Amendment of section 39
List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Amendment Act, 2002 Preamble 1
Title: General Insurance Business (Nationalisation) Amendment Act, 2002
State: Central
Year: 2002
GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT ACT, 2002 [Act No. 40 of 2002] Preamble An Act further to amend the General Insurance Business (Nationalisation) Act, 1972 BE it enacted by Parliament in the Fifty-third Year of the Republic of India as follows :--
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Amendment Act, 2002 Section 2
Title: Amendment of Section 9
State: Central
Year: 2002
In section 9 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972) (hereinafter referred to as the principal Act),-- (a) in sub-section (1), the following proviso shall be inserted, namely :-- 'Provided that on and from the commencement of the General Insurance Business (Nationalisation) Amendment Act, 2002, the provisions of this sub-section shall have effect as if for the words "superintending, controlling and carrying on the business of general insurance", the words "carrying on re-insurance business" had been substituted.'; (b) in sub-section (2), the following proviso shall be inserted, namely :-- "Provided that the Central Government may, by notification, increase or reduce the authorised capital or subscribed capital, as the case may be, as it deems fit.".
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Amendment Act, 2002 Section 7
Title: Amendment of Section 24a
State: Central
Year: 2002
In section 24A of the principal Act, the following proviso shall be inserted, namely :-- "Provided that the Corporation shall, on and from the commencement of the General Insurance Business (Nationalisation) Amendment Act, 2002, cease to carry on general insurance business.".
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Amendment Act, 2002 Section 8
Title: Amendment of Section 39
State: Central
Year: 2002
In section 39 of the principal Act, in sub-section (2), for clause (b), the following clauses shall be substituted, namely :-- "(b) the conditions, if any, subject to which the Corporation shall carry on re-insurance business; (ba) the conditions, if any, subject to which the acquiring companies shall carry on general insurance business.".
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Amendment Act, 2002 Section 1
Title: Short Title and Commencement
State: Central
Year: 2002
(1) This Act may be called the General Insurance Business (Nationalisation) Amendment Act, 2002. (2) It shall come into force on such date1as the Central Government may, by notification in the Official Gazette, appoint. ______________________ 1. Date appointed is 21.03.2003 by Notification No. SO 329(E) dated 21.03.2003
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Amendment Act, 2002 Section 3
Title: Insertion of New Section 10a
State: Central
Year: 2002
After section 10 of the principal Act, the following section shall be inserted, namely :-- "10A. Transfer to Central Government of shares vested in Corporation.--All the shares in the capital of the acquiring companies, being-- (a) the National Insurance Company Limited; (b) the New India Assurance Company Limited; (c) the Oriental Insurance Company Limited; (d) the United India Insurance Company Limited, and vested in the Corporation before the commencement of the General Insurance Business (Nationalisation) Amendment Act, 2002 shall, on such commencement, stand transferred to the Central Government.".
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Amendment Act, 2002 Section 4
Title: Amendment of Section 18
State: Central
Year: 2002
In section 18 of the principal Act,-- (a) in sub-section (1), after clause (e), the following proviso shall be inserted, namely :-- "Provided that all the functions of the Corporation specified in this sub-section, on and from the commencement of the General Insurance Business (Nationalisation) Amendment Act, 2001, shall be performed by the Central Government."; (b) in sub-section (2), for the word "Corporation", the words "Central Government" shall be substituted.
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Amendment Act, 2002 Section 5
Title: Amendment of Section 19
State: Central
Year: 2002
In section 19 of the principal Act, in sub-section (3), for the word "Corporation", the words "Central Government or the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999" shall be substituted.
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Amendment Act, 2002 Section 6
Title: Amendment of Section 22
State: Central
Year: 2002
In section 22 of the principal Act, for the words "The Corporation may at any time transfer any officer", the words "The Central Government or any person authorised by it, may at any time transfer any officer" shall be substituted.
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