Life Insurance Corporation Act : Corporation to have the exclusive privilege of carrying on

Life Insurance Corporation Act,1956

Act No : 31

Section : Corporation to have the exclusive privilege of carrying on lifeinsurance business.

30. Corporation to have the exclusive privilege of carrying on life insurance business. Except to the extent otherwise expressly provided in this Act, on and from the appointed day the Corporation shall have the exclusive privilege of carrying on life insurance business in India; and on and from the said day any certificate of registration under the Insurance Act held by any insurer immediately before the said day shall cease to have effect in so far as it authorizes him to carry on life insurance business in India.