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 5D: Shares to be securities.
    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).
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