The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (i)
PUBLISHED BY AUTHORITY
No 115] NEW DELHI FRIDAY MAY 11, 1973/VAISAKHA 21, 1895
Separate paging is given to this Part in order that it may be filed as a separate compilation
MINISTRY OF FINANCE
(Department of Revenue and Insurance)
NOTIFICATION
INSURANCE
New Delhi, the 11th May 1973
G.S.R. Z49(E).—In exercise of the powers conferred by section 16 of the General Insurance (Emergency Provisions) Act, 1971 (17 of 1971), the Central Government hereby makes the following rules further to amend the General Insurance (Emergency Provisions) Rules, 1972, namely:—
1. (1) These rules may be caled the General Insurance (Emergency Provisions) Amendment Rules, 197a.
(2) They shall come into force on the date of their publication in the Official Gazette,
2. In rule 3 of the General Insurance (Emergency Provisions) Rules, 1972—
(a) In sub-rule (1), In clause (f), after the words ''among the shareholders', occurring in both the places, the brackets and words "(being holders of equity shares, and of preference shares which confer a right to participate in the profits of the insurer in addition to the right to a fixed preferential dividend)" shall be inserted;
7o4 THfc OME11E Of 1NOIA EXTRAORDINARY [PART II—SEC 3to the nationalisation day and the amount of income earned from the investment thereof shall be utilised to meet the liability for income-tax and any other taxes or dues under any law for the time being in force in respect of such compensation and income and to meet all incidental expenses, such as expenses on maintenance of accounts and defence of suits; and Ht&e buHUHW, it ariy. jthall be dealt with in the same manner as the amount referred v" to section 11 of the Nationalisation Act Is dealt with in the cose of such insurer.".
[No. F.63(48)-Ins.I/71.] M. K. VXNKATESHAN, Jt. Secy.