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The Insurance Act, 1938

( ACT NO. IV Of 1938 )

Deposits to be made by Mutual Insurance Companies and Co-operative Insurance Societies
98. Every Mutual Insurance Company and every Co-operative Insurance Society shall deposit at the time of making application for registration and keep deposited with the Bangladesh Bank, for and on behalf of the Government, the amount specified in the Seventh Schedule either in cash or in approved securities estimated at the market value of the securities on the day of the deposit.

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