| 1 | Short title and commencement. |
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| 2 | Definitions. |
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| 3 | Establishment and incorporation of Life Insurance Corporation of India. |
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| 4 | Board of Directors |
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| 5 | Capital of Corporation. |
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| 6 | Functions of the Corporation. |
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| 6A | Power to impose conditions, etc. |
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| 7 | Transfer of assets and liabilities of existing insurers carrying on controlled business. |
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| 8 | Provident, superannuation and other like funds. |
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| 9 | General effect of vesting of controlled business. |
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| 10 | Provisions as to composite insurers. |
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| 11 | Transfer of service of existing employees of insurers to the Corporation. |
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| 12 | Transfer of services of existing employees of chief agents of insurers to the Corporation in certain cases. |
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| 13 | Duty to deliver possession of property and documents relating thereto. |
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| 14 | Power of Corporation to modify contracts of life insurance in certain cases. |
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| 15 | Right of Corporation to seek relief in respect of certain transactions of the insurer. |
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| 16 | Compensation for acquisition of controlled business. |
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| 17 | Constitution of Tribunals. |
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| 18 | Offices, branches and agencies. |
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| 19 | Executive Committee. |
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| 20 | Managing Directors. |
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| 21 | Corporation to be guided by the directions of Central Government. |
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| 22 | Zonal Managers. |
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| 23 | Staff of the Corporation. |
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| 24 | Funds of the Corporation. |
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| 25 | Appointment of auditors. |
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| 26 | Actuarial valuations. |
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| 27 | Annual report of activities of Corporation. |
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| 28 | Surplus from life insurance business, how to be utilised. |
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| 28A | Profits from any business (other than life insurance business) how to be utilised. |
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| 29 | Reports to be laid before Parliament. |
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| 30 | Corporation to have the exclusive privilege of carrying on life insurance business. |
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| 30A | Exclusive privilege of Corporation to cease. |
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| 31 | Exception in the case of insurance business in respect of persons residing outside India. |
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| 32 | Power of Corporation to have official seal in certain cases. |
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| 33 | Requirement of foreign laws to be complied with in certain cases. |
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| 34 | Revesting of certain shares vested in the Administrator General. |
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| 35 | Repatriation of assets and liabilities in the case of foreign insurers in certain cases. |
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| 36 | Contracts of chief agents and special agents to terminate. |
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| 37 | Policies to be guaranteed by Central Government. |
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| 38 | Liquidation of Corporation. |
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| 39 | Special provisions for winding up of certain insurers. |
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| 40 | Penalty for withholding property, etc. |
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| 41 | Tribunal to have exclusive jurisdiction in certain matters. |
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| 42 | Enforcement of decisions of Tribunals. |
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| 43 | Application of the Insurance Act. |
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| 43A | . Omitted. |
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| 44 | Act not to apply in certain cases |
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| 45 | Special provisions regarding transfer of controlled business of certain composite insurer. |
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| 46 | Defects in constitution of Corporation or Committees or in appointment or nomination of directors not to invalidate acts or proceedings. |
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| 47 | Protection of action taken under this Act. |
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| 48 | Power to make rules. |
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| 49 | Power to make regulations |
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| 4A | Disqualification to be director. |
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| 4B | Disclosure of interest by director and senior management. |
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| 4C | Related party transactions. |
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| 4D | Adjudication of penalties |
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| 5A | Transferability of shares. |
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| 5B | Register of members, etc. |
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| 5C | Declaration in respect of beneficial interest in shares. |
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| 5D | Shares to be securities. |
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| 5E | Right of registered members to nominates. |
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| 19A | Investment Committee. |
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| 19B | Nomination and Remuneration Committee |
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| 19C | Audit Committee. |
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| 19D | Other Committees. |
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| 23A | Annual general meeting and other general meetings |
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| 24A | Books of account, etc. |
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| 24B | Financial statements. |
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| 24C | Board's report. |
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| 24D | Penalties. |
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| 25A | Removal and resignation of auditor. |
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| 25B | Powers and duties of auditors and auditor's report. |
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| 25C | Internal auditor. |
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| 25D | Special auditor |
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| 28B | Declaration of dividend. |
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| 28C | Unpaid Dividend Account. |
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| 50 | Form, manner, etc. for companies to apply with modifications. |
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| 51 | Power to remove difficulties. |
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