Section 53A

Unpaid-up share capital.

The Insurance Act, 1938

  • Act 4 of 1938
  • Ministry of Finance
  • Department of Financial Services
About this Act

An Act to consolidate and amend the law relating to the business of insurance.

All sections
    1[53A. Unpaid-up share capital.--Notwithstanding anything contained in any other law, in ascertaining for any purpose of this Act the solvency or otherwise of an insurer no account shall be taken of any assets of the insurer consisting of unpaid up share capital.]

Notes

1. Ins. by Act 6 of 1946, s. 25 (w.e.f. 20-3-1946).

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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