Section 2(2) in The Life Insurance (Emergency Provisions) Act, 1956
(2)" controlled business" means--(i)in the case of an insurer specified in sub- clause (a) (ii) or sub- clause (b) of clause (9) of section 2 of the Insurance Act and carrying on life insurance business--(a)all his business, if he carries on no other class of insurance business;(b)all the business appertaining to his life insurance business, if he carries on some other class of insurance business also;(c)all his business, if his certificate of registration under the Insurance Act in respect of general insurance business stands wholly cancelled for a period of more than six months on the appointed day;(ii)in the case of any other insurer specified in clause (9) of section 2 of the Insurance Act and carrying on life insurance business--(a) all his business in India, if he carries on no other class of insurance business in India;(b)all the business appertaining to his life insurance business in India, if he carries on some other class of insurance business also in India;(c)all his business in India, if his certificate of registration under the Insurance Act in respect of general insurance business in India stands wholly cancelled for a period of more than six months on the appointed day;(iii)in the case of a provident society, as defined in section 65 of the Insurance Act, all its business;Explanation.-- An insurer is said to carry on no class of insurance business other than life insurance business if, in addition to life insurance business, he carries on only capital redemption business or annuity certain business or both; and the expression" business appertaining to his life insurance business" shall be construed accordingly;
