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    Question

    GIC was ceased to be a holding company of its

    subsidiaries in which of the following year?
    A 1938 Correct Answer Incorrect Answer
    B 1972 Correct Answer Incorrect Answer
    C 1956 Correct Answer Incorrect Answer
    D 1999 Correct Answer Incorrect Answer
    E 2003 Correct Answer Incorrect Answer

    Solution

    With the General Insurance Business (Nationalisation) Amendment Act 2002 (40 of 2002) coming into force from March 21, 2003; GIC ceased to be a holding company of its subsidiaries.

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