Section 3 in The General Insurance Business (Nationalisation) Amendment Act, 2002
3. Insertion of new section 10A.-
After section 10 of the principal Act, the following section shall be inserted, namely:-" 10A. Transfer to Central Government of shares vested in Corporation.- All the shares in the capital of the acquiring companies, being-(a) the National Insurance Company Limited;(b)the New India Assurance Company Limited;(c)the Oriental Insurance Company Limited;(d)the United India Insurance Company Limited, and vested in the Corporation before the commencement of the General Insurance Business (Nationalisation) Amendment Act, 2002 shall, on such commencement, stand transferred to the Central Government.".
