Act Number: 31

Act Name: The Life Insurance Corporation Act, 1956

Year: 1956

Enactment Date: 1956-06-18

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 22: Zonal Managers.
    (1) The Corporation may entrust the superintendence and direction of the affairs and business of a zonal office to 1[an employee of the Corporation other than a whole-time director], who shall be known as the Zonal Manager and the Zonal Manager shall perform all such functions of the Corporation as may be delegated to him with respect to the area within the jurisdiction of the zonal office.
     2*                                                    *                                            *                                                *                                                *.
     (3) The Corporation shall constitute in the prescribed manner for each zonal office an Employees and Agents Relations Committee consisting of such number of persons as it thinks fit and every such Committee shall consist of representatives of the Corporation and of its employees and agents, so however, that the number of representatives of the employees and agents on the Committee shall not be less than the number of representatives of the Corporation and it shall be duty of the Committee to advise the Zonal Manager on matters which relate to the welfare of the employees and agents of the Corporation or which are likely to promote and secure amity and good relations between them and the Corporation.
Notes:
1. Subs. by s. 134, ibid., for a person whether a member or not (w.e.f. 30-6-2021).
2. Sub-section (2) omitted by Act 13 of 2021, s. 134 (w.e.f. 30-6-2021).
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