Exemption of notified section to Indian Insurance Company - F. No. 14017/98/2014-Ins. II - Indian Law

MINISTRY OF FINANCE (Department of Financial Services) New Delhi, the 27th March, 2015 NOTIFICATION S.O. 870(E).- In exercise of the powers conferred by Section 2CA of the Insurance Act, 1938 (4 of 1938), the Central Government hereby directs that- (a) the provisions contained in Sections 29, 32B, 32C, 32D, 64C, 64D, 64E, 64F, 64G, 64H, 64J, 64K, 64L, 64M, 64N, 64-O, 64R, sub-section (2) of Section 64 ULA, Sections 101A, 101B, 105B, 110F, 118 and Section 120 of the said Act shall not apply to an insurer, being an Indian Insurance Company, insurance co-operative society or a body corporate referred to in clause (c) of sub-section (1) of Section 2C; (b) all sections other than those mentioned in clause (a) shall apply to an insurer, being an Indian Insurance Company, insurance co-operative society or a body corporate referred to in clause (c) of sub-section (1) of Section 2C, carrying on the business of insurance in any Special Economic Zone as defined in clause (za) of Section 2 of the Special Economic Zones Act, 2005 (28 of 2005) . [F. No. 14017/98/2014-Ins. II] ANUP WADHAWAN, Jt. Secy.