Section 26
Actuarial valuations.
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[The Board] shall, 2[every year], cause an investigation to be made by
actuaries into the financial conditions of the 3[life insurance business of the Corporation, including a
valuation of the liabilities of the Corporation in respect thereto], and submit the report of the actuaries to the 4[Board].
Notes
1 .Subs. by Act 13 of 2021, s. 138, for "The Corporation" (w.e.f. 30-6-2021).
2. Subs. by Act 8 of 2012, s. 4, for "once at least in every two years" (w.e.f. 31-3-2012).
3. Subs. by Act 33 of 1965, s. 2, for certain words (w.e.f. 29-9-1965).
4. Subs. by 13 of 2021, s. 138, for "Central Government" (w.e.f. 30-6-2021).
2. Subs. by Act 8 of 2012, s. 4, for "once at least in every two years" (w.e.f. 31-3-2012).
3. Subs. by Act 33 of 1965, s. 2, for certain words (w.e.f. 29-9-1965).
4. Subs. by 13 of 2021, s. 138, for "Central Government" (w.e.f. 30-6-2021).