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Start Free TrialGeneral Insurance Business (Nationalisation) Act,1972 Amending Act 1
Title: General Insurance Business (Nationalisation) Amendment Act, 2002
State: Central
Year: 1972
..... Amending Act 1 - GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT ACT, 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 :-- 1. Short title and commencement (1) This Act maybe called the General Insurance Business (Nationalisation) Amendment Act,2002. (2) It shallcome into force on such date1 as the Central Government may, bynotification in the Official Gazette, appoint. ______________________ 1. Dateappointed is 21.03.2003 by Notification No. SO 329(E) dated 21.03.2003 2. Amendment of section 9 In section 9 ofthe General Insurance Business (Nationalisation) Act, 1972 (57 of 1972)(hereinafter referred to as the principal Act),-- (a) insub-section (1), the following proviso shall be inserted, namely :-- 'Provided thaton and from the commencement of the General Insurance Business (Nationalisation)Amendment Act, 2002, the provisions of this sub-section shall have effect as iffor the words "superintending, controlling and.....
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Act,1972 Chapter II
Title: Transfer to Public Ownership of Genral Insurance Business
State: Central
Year: 1972
.....Government to the concerned Indian insurance company, who shall, on receipt of such copy, and notwithstanding anything contained in the Companies Act or in its articles of association, forthwith rectify its register of members by including therein the persons mentioned in the notification as the holders of the shares specified therein. (5) For the removal of doubts it is hereby declared that the transfer and vesting of shares effected under sub-section (1) shall not be deemed to affect any right of the Indian insurance company subsisting immediately before the appointed day against any shareholder to recover from him any sum of money on the ground that that shareholder has not paid or credited to the insurer the whole or any part of the value of the shares held by him or on any other ground whatsoever. Section 5 - Transfer of undertakings of other existing insurers (1) On the appointed day, the undertaking of every existing insurer who is not an Indian insurance company shall stand transferred to and vested in the Central Government and the Central Government shall immediately thereafter provide, by notification, for the transfer to and vesting in such Indian insurance.....
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Act,1972 Preamble 1
Title: General Insurance Business (Nationalisation) Act, 1972
State: Central
Year: 1972
THE GENERAL INSURANCE BUSINESS (NATIONALISATION) ACT, 1972 [Act, No. 57 of 1972] [20th September, 1972] PREAMBLE An Act to provide for the acquisition and transfer of shares of Indian Insurance companies and undertakings of other existing insurers in order to serve better the needs of the economy by securing the development of general insurance business in the best interests of the community and to ensure that the operation of the economic system does not result in the concentration of wealth to the common detriment, for the regulation and control of such business and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Twenty-third Year of the Republic of India as follows:--
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Act,1972 Section 24
Title: Acquiring Companies to Have the Exclusive Privilege of Carrying on General Insurance Business
State: Central
Year: 1972
(1) Except to the extent expressly provided in this Act, on and from the appointed day, the Corporation and the acquiring companies shall have the exclusive privilege of carrying on general insurance business in India. (2) Subject to the provisions of section 36, any certificate of registration granted under the Insurance Act to any insurer other than an insurer referred to in sub-section (1) shall, on and from the appointed day, cease to have effect: Provided that nothing in this sub-section shall apply to the carrying on by the Life Insurance Corporation of life insurance business and capital redemption and annuity certain business.
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Act,1972 Complete Act
Title: General Insurance Business (Nationalisation) Act,1972
State: Central
Year: 1972
.....of acquiring company to seek relief in respect of certain transactions Section29 - Duty to deliver possession of property and documents relating thereto Section30 - Penalty for withholding property etc. Section31 - Officers and employees of Corporation or of acquiring companies to be public servants Section32 - Indemnity Section33 - Dissolution of Corporation and acquiring companies Section34 - Reference to existing insurer in other laws Section35 - Application of Insurance Act Section35A - [Omitted] Section36 - Exemptions Section37 - Vacancies, etc., not to invalidate proceedings Section38 - Protection of action taken in good faith Section39 - Power to make rules Section40 - Omission of section 14 of Act 17 of 1971 [Replealed] Schedule1 - THE SCHEDULE Amending Act1 - GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT ACT, 2002
List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Act,1972 Chapter V
Title: Scheme for Reorganisation of General Insurance Business
State: Central
Year: 1972
.....power to frame such scheme with retrospective effect from adate not earlier than the appointed date.] _________________________ 1.Inserted by Act 3 of 1985, section 3 (w.r.e.f. 17-9-1984). Section 17 - Laying of schemes and notifications before Parliament 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 each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the scheme or notification or both Houses agree that the scheme or notification should not be framed or issued, the scheme or notification shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously.....
View Complete Act 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 sectionKarnataka Public Service Commission (Conduct of Business and Additional Functions) Act, 1959 Preamble 1
Title: Karnataka Public Service Commission (Conduct of Business and Additional Functions) Act, 1959
State: Karnataka
Year: 1959
Preamble 1 - KARNATAKA PUBLIC SERVICE COMMISSION (CONDUCT OF BUSINESS AND ADDITIONAL FUNCTIONS) ACT, 1959 THE1[KARNATAKA] PUBLIC SERVICE COMMISSION (CONDUCT OF BUSINESS AND ADDITIONAL FUNCTIONS) ACT, 1959 [A ct , No. 20 of 1959] [31st of December, 1959] PREMABLE An Act to prescribe the procedure to be followed by the2[Karnataka] Public Service Commission for the performance of its functions and to provide for the exercise of certain additional functions by the Commissio n. WHEREAS it is expedient to prescribe the procedure to be followed by the1[Karnataka] Public Service Commission for the performance of its functions and to provide for the exercise of certain additional functions by the Commission; BE it enacted by the2[Karnataka] State Legislature in the Tenth Year of the Republic of India as follows:- _____________________________ 1. First published in the Karnataka Gazette on the Thirty-first Day of December, 1959 2. Adapted by the Karnataka Adaptations of Laws Order 1973 w.e.f. 1.11.1973
View Complete Act List Judgments citing this sectionKarnataka Public Service Commission (Conduct of Business and Additional Functions) Act, 1959 Chapter II
Title: Conduct of Business by the Commission
State: Karnataka
Year: 1959
.....in a letter signed by the Secretary,2[or by the Assistant Secretary] and, in a case where the opinion or the decision is not unanimous, neither the fact of, nor the grounds for, dissent shall be communicated ulsess the commission so derects. ______________________________ 1. Substituted by Act 25 of 1966 w.e.f. 1.9.1966 2. Inserted by Act 25 of 1966 w.e.f. 1.9.1966 Section 11 - Communications to be signed 1[by the Secretary or the Assistant Secretary] 11. Communications to be signed1[by the Secretary or the Assistant Secretary] Whenweve the Commission is required to be consulted by or to give advice or forward proposals to, or to be consulted by, any authority, the opinion or the decision of the Commission shall be communicated in a letter signed by the Secretary,2[or by the Assistant Secretary] and, in a case where the opinion or the decision is not unanimous, neither the fact of, nor the grounds for, dissent shall be communicated ulsess the commission so derects. ______________________________ 1. Substituted by Act 25 of 1966 w.e.f. 1.9.1966 2. Inserted by Act 25 of 1966 w.e.f. 1.9.1966 Section 12 - Deputation of Members The Commission may depute one or.....
View Complete Act List Judgments citing this sectionInsurance Laws (Transfer of Business and Emergency Provision) Repeal Act, 2001 Preamble 1
Title: Insurance Laws (Transfer of Business and Emergency Provision) Repeal Act, 2001
State: Central
Year: 2001
THE INSURANCE LAWS (TRANSFER OF BUSINESS AND EMERGENCY PROVISION) REPEAL ACT, 2001 [Act, No. 11 of 2001] [9th May, 2001] PREAMBLE An Act to repeal the Allianz Und Stuttgarter Life Insurance Bank (Transfer) Act, 1950, the Life Insurance (Emergency Provisions) Act, 1956 and the General Insurance (Emergency Provisions) Act, 1971. be it enacted by Parliament in the Fifty-second Year of the Republic of India as follows: --
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