Section 46: Defects in constitution of Corporation or Committees or in appointment or nomination of directors not to invalidate acts or proceedings.

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

[46. Defects in constitution of Corporation or Committees or in appointment or nomination of directors not to invalidate acts or proceedings.---(1) No act or proceeding of the Corporation or of its Board or any Committee thereof shall be called in question on the ground merely of the existence of any vacancy or defect in the constitution of the Corporation or the Board or such Committee, as the case may be.

(2) No act done by an individual as a director shall be deemed to be invalid, notwithstanding that it was subsequently noticed that his appointment or nomination, as the case may be, was invalid by reason of any defect or disqualification or had terminated by virtue of any provision contained in this Act:

Provided that nothing in this sub-section shall be deemed to give validity to any act done by such individual as director after his appointment or nomination, as the case may be, has been noticed by the Corporation to be invalid or to have terminated.]

Where this provision sits

Act	The Life Insurance Corporation Act, 1956
Section	46
Marginal note	Defects in constitution of Corporation or Committees or in appointment or nomination of directors not to invalidate acts or proceedings.
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 13 of 2021. Subs. by Act 13 of 2021, s. 143, ss. 46 and 47 (w.e.f. 30-6-2021).

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