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    Question

    What is the significance of Section 6 of the LIC Act?

    A Powers of the Corporation Correct Answer Incorrect Answer
    B Life Insurance Fund Correct Answer Incorrect Answer
    C Vesting of insurance business in the Corporation Correct Answer Incorrect Answer
    D Accounts and Audit Correct Answer Incorrect Answer
    E Control by Central Government Correct Answer Incorrect Answer

    Solution

    Explanation: Section 6 provides for the vesting of all life insurance businesses in the Corporation upon nationalization.

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