MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 13th April, 2022
S.O. 1822(E).—In exercise of the powers conferred by sub-section (1) and sub-section (6) of section 16 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972), the Central Government hereby makes the following Scheme further to amend the National Insurance Company Limited (Merger) Scheme, 1973, namely:—
1. (1) This Scheme may be called the National Insurance Company Limited (Merger) Amendment Scheme, 2022.
(2) It shall come into force on the date of its publication in the Official Gazette.
2. In the National Insurance Company Limited (Merger) Scheme, 1973,—
(i) in paragraph 10, for the words, “seven thousand five hundred crore divided into seven hundred fifty crore”, the words “fifteen thousand crore divided into fifteen hundred crore” shall be substituted;
(ii) in the Second Schedule,—
(a) in Part I, in paragraph 2, for the words “seven thousand five hundred crore divided into seven hundred fifty crore”, the words “fifteen thousand crore divided into fifteen hundred crore” shall be substituted;
(b) in Part II, in paragraph 3, for the words “seven thousand five hundred crore divided into seven hundred fifty crore”, the words “fifteen thousand crore divided into fifteen hundred crore” shall be substituted.
[F. No.14013/12/2020-Ins II]
AMIT AGRAWAL, Addl. Secy.
Note: The principal Scheme was published in the Gazette of India, Extraordinary, part II, section 3, subsection (ii) vide notification number S.O. 806(E), dated the 31st December, 1973, and subsequently amended vide notification numbers S. O. 733 (E), dated the 12th October, 1982, S.O.929(E), dated the 16th October, 2000, S.O.1124(E), dated the 18th March, 2020 and last amended vide notification number S.O.2580 (E), dated the 31st July, 2020.
