[36. Sanction of amalgamation and transfer by Authority.--When any application under sub-section (3) of section 35 is made to the Authority, the Authority shall cause, a notice of the application to be given to the holders of any kind of policy of insurer concerned alongwith statement of the nature and terms of the amalgamation or transfer, as the case may be, to be published in such manner and for such period as it may direct, and, after hearing the directors and considering the objections of the policyholders and any other persons whom it considers entitled to be heard, may approve the arrangement, and shall make such consequential orders as are necessary to give effect to the arrangement.]
Section 36: Sanction of amalgamation and transfer by Controller.
The Insurance Act, 1938Central Act · Act 4 of 1938
Where this provision sits
| Act | The Insurance Act, 1938 |
|---|---|
| Section | 36 |
| Marginal note | Sanction of amalgamation and transfer by Controller. |
| 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.
- substituted, Act 5 of 2015. . Subs. by Act 5 of 2015, s. 43, for section 36 (w.e.f. 26-12-2014).
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