Question
How did the provisions regarding the General Insurance
Corporation of India change with the commencement of the General Insurance Business (Nationalisation) Amendment Act, 2002?Solution
Section 9. Formation of General Insurance Corporation of India: (1) As soon as may be after the commencement of this Act, the Central Government shall form a Government company in accordance with the provisions of the Companies Act, to be known as the General Insurance Corporation of India for the purpose of superintending, controlling and carrying on the business of general insurance: Provided that on and from the commencement of the General Insurance Business (Nationalisation) Amendment Act, 2002, the provisions of this sub-section shall have effect as if for the words superintending, controlling and carrying on the business of general insurance, the words carrying on re-insurance business had been substituted.
The ozone layer absorbs harmful Ultra Violet radiation from sun. It is present in the upper portion of
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