Question
As per the General Insurance Business (Nationalisation)
Act, how is the total amount paid by the Central Government under Section 11 treated?Solution
Section 12. Disbursement of amounts by Corporation: (1) The total amount paid by the Central Government under section 11 shall be treated as additional contribution to the subscribed capital of the Corporation and such additional subscribed capital shall stand allotted to, and vested in, the Central Government.
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