REGISTERED No. D- ( D) -72 रजिस्ट्री सं ०डी- ( डी) -72
भारत का राजपत्र
The Gazette of Indr
असाधारण
EXTRAORDINARY
भाग II-खण्ड 1
PART II-Section 1
प्राधिकार से प्रकाशित
PUBLISHED BY AUTHORITY
सं० 4] नई दिल्ली , मंगलवार, मार्च 17 , 1981/फाल्गुन 26 , 1902 No. 4 ] NEW DELHI , TUESDAY , MARCH 17 , 1981 / PHALGUNA 26, 1902
इस भाग में भिम्न पृष्ठ संख्या दी जाती है जिससे कि यह अलग संकलन के रूप में रखा जा सके ।
Separate paging is given to this Part in order that it may be filed as a separate compilatión
MINISTRY OF LAW, JUSTICE AND COMPANY AFFAIRS (Legislative Department )
New Delhi , the 17th March , 1981 / Phalguna 26 , 1902 ( Saka)
The following Act of Parliament received the assent of the President on the 17th March, 1981 , and is hereby published for general informa- tion:-'
THE LIFE INSURANCE CORPORATION ( AMENDMENT )
ACT, 1981
NO . 1 OF 1981
[17th March , 1981. ]
An Act further to amend the Life Insurance Corporation Act , 1956 .
WHEREAS for securing the interests of the Life Insurance Corporation of India and its policy-holders and to control the cost of administration , it is necessary that revision of the terms and conditions of service appli- cable to the employees and agents of the Corporation should be under- taken expeditiously;
BE it enacted by Parliament in the Thirty-second Year of the Republic of India as follows :-
1. ( 1 ) This Act may be called the Life Insurance Corporation (Amendment) Act , 1981 .
Short titleand commence- ment.
(2) It shall be deemed to have come into force on the 31st day of January, 1981 .
31 of 1956 .
2. In the Life Insurance Corporation Act, 1956 (hereinafter referred to as the principal Act ) , in section 48,-
Amend ment of section 48.
(a) in sub - section ( 2 ) , after clause (c) , the following clause shall be inserted and shall be deemed to have been inserted with
(9) 10
THE GAZETTE OF INDIA EXTRAORDINARY
[PART II-
effect from the 20th day of June , 1979, namely :-
" ( cc) the terms and conditions of service of the employees and agents of the Corporation, including those who became employees and agents of the Corporation on the appointed day under this Act ; " ;
(b ) after sub - section ( 2 ) , the following sub -sections shall be inserted , namely :--
" (2A ) The regulations and other provisions as in force immediately before the commencement of the Life Insurance Corporation (Amendment ) Act , 1981 , with respect to the terms and conditions of service of employees and agents of the Corpo- ration including those who became employees and agents of the Corporation on the appointed day under this Act , shall be deemed to be rules made under clause ( cc) of sub - section (2) and shall , subject to the other provisions of this section, have effect accordingly .
(2B) The power to make rules conferred by clause (cc) of sub - section ( 2 ) shall include-
and (i) the power to give retrospective effect to such rules;
(ii) the power to amend by way of addition, variation or repeal , the regulations and other provisions referred to in sub -section ( 2A ) , with retrospective effect ,
from a date not earlier than the twentieth day of June , 1979.
14 of 1947 .
(2C) The provisions of clause (cc) of sub - section ( 2) and sub - section ( 2B) and any rules made under the said clause (cc) shall have effect , and any such rule made with retrospective effect from any date shall also be deemed to have had effect from that date , notwithstanding any judgment, decree or order of any court, tribunal or other authority and notwithstanding anything contained in the Industrial Disputes Act, 1947 or any other law or any agreement , settlement, award or other instru- ment for the time being in force. " .
3. In section 49 of the principal Act ,-
(a) in sub -section ( 2 ) ,
Amend- ment of section 49.
( i) in clause (b ) , the words " and the terms and conditions of service of employees or agents " shall be omitted;
( ii ) clause ( bb ) shall be omitted; and
(b ) after sub- section ( 2 ) , the following sub - section shall be in- serted , namely: -
" (3 ) Every regulation made under this section shall be laid, as soon as may be after it is made , before each House of Par liament, while it is in session , for a total period of thirty days which may be comprised in one session or in two or more successive sessions , and if, before the expiry of the session im- mediately following the session or the successive sessions afore- said , both Houses agree in making any modification in the SEC . 1 ]
II
THE GAZETTE OF INDIA EXTRAORDINARY
regulation or both Houses agree that the regulation should not be made, the regulation shall thereafter have effect only in such modified form or be of no effect , as the case may be ; so , however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that regulation . " .
8 of 1981 .
4. (1 ) The Life Insurance Corporation (Amendment ) Ordinance , 1981 is hereby repealed .
Repeal and saving.
(2) Notwithstanding such repeal , anything done or any action taken under the principal Act as amended by the said Ordinance shall be deemed to have been done or taken under the principal Act as amended by this Act .
R. V. S. PERI SASTRI , Secy. to the Govt. of India .
PRINTED BY THE GENERAL MANAGER , GOVERNMENT OF INDIA PRESS , MINTO ROAD NEW DELHI AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS , DELHI , 1981