Section 21
Corporation to be guided by the directions of Central Government.
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.
In the discharge of its
functions under this Act, the Corporation shall be guided by such directions in matters of policy involving
public interest as the Central Government may give to it in writing; and if any question arises whether a
direction relates to a matter of policy involving public interest the decision of the Central Government
thereon shall be final.