LIC Act 30AChapter VII · Miscellaneous
Section 30A · Exclusive privilege of Corporation to cease
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1[30A. Exclusive privilege of Corporation to cease.--Notwithstanding anything contained in this
Act, the exclusive privilege of carrying on life insurance business in India by the Corporation shall cease
on and from the commencement of the Insurance Regulatory and Development Authority Act, 1999, and
the Corporation shall, thereafter, carry on life insurance business in India in accordance with the
provisions of the Insurance Act, 1938 (4 of 1938).]
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