Section 19
Executive Committee.
The Life Insurance Corporation Act, 1956
About this Act
An Act to provide for the nationalisation of life insurance business in India by transferring all such business to a Corporation established for the purpose and to provide for the regulation and control of the business of the Corporation and for matters connected therewith or incidental thereto.
1[19. Executive Committee.—(1) The Board may constitute an Executive Committee of the
Board, consisting of—
(i) the Chief Executive;
(ii) Managing Directors;
(iii) the director referred to in clause (d) of sub-section (2) of section 4; and
(iv) four directors nominated by the Board from amongst the directors referred to in clauses (e), (f) and (g) of sub-section (2) of section 4.
(2) The Executive Committee of the Board shall exercise such powers as the Board may entrust to it.
(i) the Chief Executive;
(ii) Managing Directors;
(iii) the director referred to in clause (d) of sub-section (2) of section 4; and
(iv) four directors nominated by the Board from amongst the directors referred to in clauses (e), (f) and (g) of sub-section (2) of section 4.
(2) The Executive Committee of the Board shall exercise such powers as the Board may entrust to it.
Notes
1. Subs. by Act 13 of 2021, s. 132, for section 19 (w.e.f. 30-6-2021).