Section 18(2) in The General Insurance Business (Nationalisation) Act, 1972
(2)In issuing any directions under sub-section (1), the [Central Government] [Substituted by Act 40 of 2002, Section 4, for " Corporation" (w.e.f. 21.3.2003).] shall keep in mind the desirability of encouraging competition amongst the acquiring companies as far as possible in order to render their services more efficient.
