Section 24A: Exclusive privilege of Corporation and acquiring companies to cease.

The General Insurance Business (Nationalisation) Act, 1972Central Act · Act 57 of 1972

[24A. Exclusive privilege of Corporation and acquiring companies to cease.-- Notwithstanding anything contained in this Act, the exclusive privilege of the Corporation and the acquiring companies of carrying on general insurance business in India shall cease on and from the commencement of the Insurance Regulatory and Development Authority Act, 1999 and the Corporation and the acquiring companies shall, thereafter, carry on general insurance business in India in accordance with the provisions of the Insurance Act, 1938 (4 of 1938):

[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].]

Where this provision sits

Act	The General Insurance Business (Nationalisation) Act, 1972
Section	24A
Marginal note	Exclusive privilege of Corporation and acquiring companies to cease.
Jurisdiction	Central
Status	In force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

inserted, Act 41 of 1999. . Ins. by Act 41 of 1999, s. 32 and the Third Schedule (w.e.f. 19-4-2000).
inserted, Act 40 of 2002. . Ins. by Act 40 of 2002, s. 7 (w.e.f. 21-3-2003).

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