LIC Act 28AChapter VI · Finance, Accounts and Audit
Section 28A · Profits from any business (other than life insurance business) how to be utilised
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1[28A. Profits from any business (other than life insurance business) how to be utilised.--If for
any financial year profits accrue from any business (other than life insurance business) carried on by the
Corporation, then, after making provision for reserves and other matters for which provision is necessary
or expedient, the balance of such profits shall be 2[allocated to or reserved for the members].]
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