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The Insurance Act, 1938

( ACT NO. IV Of 1938 )

Restriction on becoming directors of insurers
1[ 2[48B. Notwithstanding anything contained in any other law for the time being in force, a director of an insurer shall not be a director of another insurer registered for the same class of insurance business.]

  • 1
    Sections 48B, 48BB, 48BBB and 48BBBB were substituted for section 48B by section 11 of the Insurance (Amendment) Act, 1990 (Act No. XXVI of 1990)
  • 2
    Section 48B was substituted by section 3 of the Insurance (Amendment) Act, 2000 (Act No. XIV of 2000)
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