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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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