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[Section Index]

The Insurance Act, 1938

( ACT NO. IV Of 1938 )

Unpaid-up share capital
1[53A. Notwithstanding anything contained in any other law, in ascertaining for any purpose of this Act the solvency or otherwise of any insurer, no account shall be taken of any assets of the insurer consisting of unpaid-up share capital.]

  • 1
    Section 53A was inserted by section 25 of the Insurance (Amendment) Act, 1946 (Act No. VI of 1946)
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