Question

    Under the General Insurance Business (Nationalisation)

    Act the provision relating to the payment of the dues to the Life Insurance Corporation, it shall be given to it in _____________, the first of which shall fall due on the appointed day
    A Annual instalments Correct Answer Incorrect Answer
    B Two equal annual instalments Correct Answer Incorrect Answer
    C Five equal annual instalments Correct Answer Incorrect Answer
    D Three equal annual instalments Correct Answer Incorrect Answer
    E Such annual installments as the Central Government may prescribe Correct Answer Incorrect Answer

    Solution

     Section 13. Mode of payment: (c) to the Life Insurance Corporation, it shall be given to it in three equal annual instalments, the first of which shall fall due on the appointed day.

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