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Section 19A: Investment Committee.

The Life Insurance Corporation Act, 1956Central Act · Act 31 of 1956

[19A. Investment Committee.The Board may, for such functions relating to investment of the funds of the Corporation as the Board may entrust, constitute an Investment Committee of the Board, consisting of the Chief Executive and not more than seven other directors, of which a minimum two shall be directors other than directors appointed under clause (a) or clause (b) of sub-section (2) of section 4:

Provided that the officers of the Corporation heading the functions dealing with finance, risk, investment and law as well as its Appointed Actuary shall be invited to every meeting of the Committee and shall have a right to be heard at the meeting.

Explanation.---For the purposes of this section and section 24B, "Appointed Actuary" means the actuary appointed as such by the Corporation under the regulations made by the Authority under the Insurance Act regarding appointed actuaries.]

Where this provision sits

ActThe Life Insurance Corporation Act, 1956
Section19A
Marginal noteInvestment Committee.
JurisdictionCentral
StatusIn 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 13 of 2021. Subs. by Act 13 of 2021, s. 132, for s. 19 (w.e.f. 30-6-2021).

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