Section 12A in Life Insurance Corporation General Rules, 1956
12A. [ Jurisdiction of Tribunal.
- The Tribunal may exercise jurisdiction in the whole of India and shall have power to decide or determine all or any of the following matters, namely:--(i)any question whether of title or of liability or of any nature whatsoever in relation to the assets and liabilities pertaining to the controlled business of the insurer transferred to and vested in the Corporation;(ii)any question under section 10 or under any rules made thereunder whether any property is or was held or used by a composite insurer for the purposes of his controlled business;(iii)every application made under section 15 and all claims outstanding in respect of any transaction which may be the subject-matter of any such application determined in favour of the Corporation;(iv)all claims for compensation payable under the Act to insurer whose controlled business has been transferred to and vested in the Corporation; and all matters connected with the determination, payment and distribution of such compensation;(v)all claims for compensation payable under the Act to chief agents or special agents for contracts terminated under section 36; and all matters connected with the termination, payment and distribution of such compensation;(vi)such supplemental, incidental or consequential matters which the Tribunal may deem it expedient or necessary to decide or determine for the purpose of securing that the jurisdiction vested in it under the Act and in respect of matters referred to above is fully and effectively exercised.]
