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5[2CA. Power of Central Government to apply provisions of this Act to Special Economic Zones.-

The Central Government may, by notification, direct that any of the provisions of this Act,-

(a) shall not apply to 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); or

(b) shall apply to any 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) only with such exceptions, modifications and adaptations as may be specified in the notification.] 20

1. Subs. by Act 62 of 1956, s. 2 the Schedule, for "the States" (w.e.f. 1-11-1956).

2. The proviso ins. by Act 41 of 1999, s. 30 and the First Schedule (w.e.f. 19-4-2000).

3. The proviso ins. by Act 28 of 2005, s. 57 and the Third Schedule (w.e.f. 10-2-2006).

4. Ins. by Act 42 of 2002, s. 3 (w.e.f. 23-9-2002).

5. Ins. by Act 28 of 2005, s. 57 and the Third Schedule (w.e.f. 10-2-2006).



Insurance Act, 1938 Back




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