Section 33
Requirement of foreign laws to be complied with in certain cases.
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.
Where any property or
rights appertaining to the controlled business of an insurer are transferred to and vested in the Corporation
under this Act or would be so transferred and vested but for the fact that such transfer and vesting are
governed otherwise than by the law of India, the insurer shall comply with such directions as may be
given to him by the Corporation for the purpose of securing that the ownership of the property or, as the
case may be, that the right is effectively transferred to the Corporation.