Jaitley to introduce Insurance Laws (Amendment) Bill in LS today

March 03, 2015 10:22

Finance Minister Arun Jaitley will be introducing the Insurance Laws (Amendment) Bill-2015 in the Lok Sabha. The bill will replace the Insurance Act of 1938, General Insurance Business (Nationalisation) Act, 1972 and the Insurance Regulatory and Development Authority Act, 1999. The minister is also expected to place an explanatory statement showing reasons for the immediate legislation by promulgation of the Insurance Laws (Amendment) Ordinance, 2014.

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