General Insurance Business (Nationalisation) Act, 1972

साधारण बीमा कारबार (राष्ट्रीयकरण) अधिनियम,1972

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.

Act number

Act 57 of 1972

Year

1972

Enacted on

20-09-1972

In force from

20-09-1972

Jurisdiction

Central Act (India)

Subjects

Banking And Finance

Read the full text of General Insurance Business (Nationalisation) Act, 1972 section by section on LawLens.

Official source: India Code