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General Insurance Business (Nationalisation) Act,1972 Section 10

Title : Transfer of Corporation of Shares Vested in Central Government

State : Central

Year : 1972

(1) all the shares in the capital of every indian insurance company which stand transferred to and vested in the central government by virtue of section 4 [with the exception of the shares transferred to any person under sub-section (2) of that section] .....

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General Insurance Business (Nationalisation) Act,1972 Section 11

Title : Amounts to Be Paid for Transfer and Vesting of Shares or Undertakings

State : Central

Year : 1972

(1) for the transfer of the shares of each indian insurance company to, and vesting in, the central government, under section 4, there shall be paid by the central government to the corporation, for distribution to the shareholders of each such company, .....

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General Insurance Business (Nationalisation) Act,1972 Section 12

Title : Disbursement of Amounts by Corporation

State : Central

Year : 1972

(1) the total amount paid by the central government under section 11 shall be treated as additional contribution to the subscribed capital of the corporation and such additional subscribed capital shall stand allotted to, and vested in, the central .....

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General Insurance Business (Nationalisation) Act,1972 Section 13

Title : Mode of Payment

State : Central

Year : 1972

(1) where the amount referred to in section 11 is to be given-- (a) to the members of an indian insurance company the amount due to each such member shall be paid in full where it does not exceed twenty-five thousand rupees and where it exceeds twenty- .....

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General Insurance Business (Nationalisation) Act,1972 Section 15

Title : Payment into Court in Case of Rival Claims

State : Central

Year : 1972

where a claim to the amount payable under section 11 is made by two or more persons adversely to one another, the corporation may cause the amount to be deposited in any civil court having jurisdiction in that behalf and the court shall decide as to whom .....

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General Insurance Business (Nationalisation) Act,1972 Section 17

Title : Laying of Schemes and Notifications Before Parliament

State : Central

Year : 1972

1[17. laying of schemes and notifications before parliament every scheme framed under sub-section (1) of section 16 and every notification issued under sub-section (3) of that section shall be laid, as soon as may be after it is framed or issued, before .....

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General Insurance Business (Nationalisation) Act,1972 Chapter VA

Title : Terms and Conditions of Service of Officers and Other Employees

State : Central

Year : 1972

1[chapter va terms and conditions of service of officers and other employees _______________________ 1. inserted by act 3 of 1985, section 4 (w.r.e.f. 17-9-1984).

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General Insurance Business (Nationalisation) Act,1972 Section 20

Title : Balance of Profit How to Be Utilised

State : Central

Year : 1972

(1) after making provision for bad and doubtful debts,depreciation in assets, provident, superannuation, welfare and otherfunds, debts due to government and all other matters for which provision is necessary under anylaw or which are usually provided for .....

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General Insurance Business (Nationalisation) Act,1972 Section 22

Title : Power of Central Government to Transfer Employees

State : Central

Year : 1972

1[the central government or any person authorised by it may at any time transfer any officer] or employee from an acquiring company or the corporation to any other acquiring company or the corporation, as the case may be, and the officer or employee so .....

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General Insurance Business (Nationalisation) Act,1972 Section 23

Title : Power of Central Government to Issue Directions

State : Central

Year : 1972

the corporation and every acquiring company shall, in the discharge of its functions, be guided by such directions in regard to matters of policy involving public interest as the central government may give.

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