Section 48: in section 41 of the Insurance Act, for sub-section (2), the following sub-section shall be substituted, namely

Insurance Laws (Amendment) Ordinance 2014Central Ordinance · No. 4 of 1938

Limitation of expenses of management in general, health insurance and re-insurance business.

Amendment of section 41.

"(2) Any person making default in complying with the SEC.1] THE GAZETTE OF INDIA EXTRAORDINARY 37 provisions of this section shall be liable for a penalty which may extend to ten lakh rupees.".

Where this provision sits

Act	Insurance Laws (Amendment) Ordinance 2014
Section	48
Marginal note	in section 41 of the Insurance Act, for sub-section (2), the following sub-section shall be substituted, namely
Jurisdiction	Central
Status	In force as published by the source

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