Section 2 in The General Insurance Business (Nationalisation) Amendment Act, 2002
2. Amendment of section 9.-
In section 9 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972 ) (hereinafter referred to as the principal Act),-(a) in sub- section (1), the following proviso shall be inserted, namely:-Provided that on and from the commencement of the General Insurance Business (Nationalisation) Amendment Act, 2002 , the provisions of this sub- section shall have effect as if for the words" superintending, controlling and carrying on the business of gen ral insurance", the words" carrying on re- insurance business" had been substituted.(b)in sub- section (2), the following proviso shall be inserted, namely:-Provided that the Central Government may, by notification, increase or reduce the authorised capital or subscribed capital, as the case may be, as it deems fit.
