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Section 8: For section 4 of the Insurance Act, the following section Substitution shall be substituted, namely

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

o f n e w section for section 4.

"4. The insurer shall pay or undertake to pay on any policy Minimum of life insurance or a group policy issued, a minimum annuity , imi t s for and other benefits as may be determined by regulations excluding any profit or bonus provided that this shall not prevent an insurer from converting any policy into a paid-up policy of any value or payment of surrender value of any insurance amount.".

annuities and .

other benefits secured by policies of life SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 9

9. In section 5 of the Insurance Act,—

(z) in sub-section (2), both the provisos shall be omitted;

(/'/) sub-section (J) shall be omitted.

Where this provision sits

ActInsurance Laws (Amendment) Ordinance 2014
Section8
Marginal noteFor section 4 of the Insurance Act, the following section Substitution shall be substituted, namely
JurisdictionCentral
StatusIn force as published by the source

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