"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;