Section 5D
Shares to be securities.
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[5D. Shares to be securities.—Notwithstanding anything contained in the Securities Contracts
(Regulation) Act, 1956 (42 of 1956) or any other law for the time being in force, the shares of the
Corporation shall be deemed to be securities as defined under the said Act.
Notes
1. Subs. by Act 13 of 2021, s. 131, for section 5 (w.e.f. 30-6-2021).