[30A. Exclusive privilege of Corporation to cease.---Notwithstanding anything contained in this Act, the exclusive privilege of carrying on life insurance business in India by the Corporation shall cease on and from the commencement of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), and the Corporation shall, thereafter, carry on life insurance business in India in accordance with the provisions of the Insurance Act, 1938 (4 of 1938) [, as applicable to the Corporation by virtue of section 43 of the Life Insurance Corporation Act, 1956 (31 of 1956)].]
Section 30A: Exclusive privilege of Corporation to cease.
The Life Insurance Corporation Act, 1956Central Act · Act 31 of 1956
Where this provision sits
| Act | The Life Insurance Corporation Act, 1956 |
|---|---|
| Section | 30A |
| Marginal note | Exclusive privilege of Corporation to cease. |
| 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.
- inserted, Act 41 of 1999. Ins. by Act 41 of 1999, s. 31 and Sch. II (w.e.f. 19-4-2000).
- inserted, Act 40 of 2025. Ins. by Act 40 of 2025, s. 83 (w.e.f. 5-2-2026).
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