Section 22
Power of Central Government to transfer employees.
The General Insurance Business (Nationalisation) Act, 1972
About this Act
An Act to provide for the acquisition and transfer of shares of Indian insurance companies and undertakings of other existing insurers in order to serve better the needs of the economy by securing the development of general insurance business in the best interests of the community and to ensure that the operation of the economic system does not result in the concentration of wealth to the common detriment, for the regulation and control of such business and for matters connected therewith or incidental thereto.
1[The Central Government or any
person authorised by it may at any time transfer any officer] or employee from an acquiring company or
the Corporation to any other acquiring company or the Corporation, as the case may be, and the officer or
employee so transferred, shall continue to have the same terms and conditions of service as were
applicable to him immediately before such transfer.
Notes
1. Subs. by Act 40 of 2002, s. 6, for "The Corporation may at any time transfer any officer" (w.e.f. 21-3-2003).