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The Insurance Corporations Act, 1973

( ACT NO. VI OF 1973 )

Establishment of the Corporations
4. (1) On the commencement of this Act, there shall be established two Corporations to be called the Jiban Bima Corporation and the Sadharan Bima Corporation.
(2) Each Corporation shall be a body corporate having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property, both movable and immovable, and shall by its name sue and be sued.

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