Section 25 of The General Insurance Business (Nationalisation) Act, 1972
Omitted.
[Properties in India not to be insured with foreign insurers except with permission of Central Government.] Omitted by the Insurance Laws (Amendment) Act, 2015 (5 of 2015), s. 104 (w.e.f. 26-12-2014).
Summary
- It was removed by the Insurance Laws (Amendment) Act, 2015.
- The omission became effective on the 26th of December, 2014.
- Prior to its omission, this section dealt with restrictions on insuring properties in India with foreign insurers without Central Government permission.
Practical examples
FAQ
1. Can I read the current legal requirements of Section 25?
No, the section no longer exists in the Act as it was omitted.
2. When was Section 25 removed from the law?
It was removed with effect from the 26th of December, 2014.
3. Which law was responsible for deleting Section 25?
It was deleted by the Insurance Laws (Amendment) Act, 2015.
Test yourself
1.Under Section 25 of The General Insurance Business (Nationalisation) Act, 1972, what is the current status of the provision regarding properties in India not being insured with foreign insurers?
2.Under Section 25 of The General Insurance Business (Nationalisation) Act, 1972, which legislation was responsible for removing this section?
3.Under Section 25 of The General Insurance Business (Nationalisation) Act, 1972, on what date did the omission of this section take effect?
4.Under Section 25 of The General Insurance Business (Nationalisation) Act, 1972, before it was omitted, what topic did the section regulate?