Report No. 96

7. General Insurance (Emergency Provisions) Act, 1971 (17 of 1971)

The Act makes provision for the immediate taking over of general insurance business, pending its nationalisation. The Act is still in force though section 14 was omitted by the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972). The subject-matter of this Act falls within the Union List, entry 47, "Insurance".

Reasons for recommending repeal.-General insurance business has now been nationalised and the Act under discussion seems to have outlived its utility. It should be repealed, subject to verification of the position as to continued need for the Act.1

1. Subject to verification.