Section 39(2) in The General Insurance Business (Nationalisation) Act, 1972
(2)In particular, and without prejudice to the generality of the foregoing power, rules made under this section may provide for-(a)the manner in which the profits, if any, and other moneys received by the Corporation may be dealt with;(b)[ the conditions, if any, subject to which the Corporation shall carry on re-insurance business;(ba)the conditions, if any, subject to which the acquiring companies shall carry on general insurance business;](c)the terms and conditions subject to which any reinsurance contracts or treaties may be entered into;(d)the form and manner in which any notice or application may be given or made to the Central Government;(e)the reports which may be called for by the Central Government from the Corporation and the acquiring companies;(f)any other matter which is required to be, or may be, prescribed.
