[40B. Limitation of expenses of management in life insurance business. --No insurer shall, in respect of insurance business transacted by him in India, spend as expenses of management in any financial year any amount exceeding the amount as may be specified by the regulations made under this Act;]
Section 40B: Limitation of expenses of management in life insurance business.
The Insurance Act, 1938Central Act · Act 4 of 1938
Where this provision sits
| Act | The Insurance Act, 1938 |
|---|---|
| Section | 40B |
| Marginal note | Limitation of expenses of management in life insurance business. |
| 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. 47, for sections 40B and 40C (w.e.f. 26-12-2014).
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