Section 31: Exception in the case of insurance business in respect of persons residing outside India.

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

(1) Notwithstanding anything contained in section 30 or in the Insurance Act, the Central Government may, by order, permit any person who has made an application in that behalf, to carry on life insurance business in India, in respect of the lives of persons ordinarily resident outside India, subject to such restrictions and conditions as may be specified in the order and any such order shall be deemed to have effect as if it were a certificate of registrations issued by the [Authority] to such person under section 3 of the Insurance Act in respect of that class of business.

(2) Nothing in sub-section (1) shall authorise any person permitted to carry on life insurance business of the nature referred to in that sub-section, to insure the life of any person ordinarily resident outside India, during any period of his temporary residence in India.

Where this provision sits

Act	The Life Insurance Corporation Act, 1956
Section	31
Marginal note	Exception in the case of insurance business in respect of persons residing outside India.
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.

substituted, Act 41 of 1999. Subs. by Act 41 of 1999, s. 31 and Sch II, for Controller (w.e.f. 19-4-2000).

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