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THE INSURANCE CORPORATIONS ACT, 1973

(ACT NO. VI OF 1973).
  Part No : Chapter No : Section No: [ 23rd June, 1973  
  
     An Act to establish a Jiban Bima Corporation and a Sadharan Bima Corporation.
 
    WHEREAS it is expedient to provide for the establishment of a Jiban Bima Corporation and a Sadharan Bima Corporation for the purpose of taking over the undertakings of the Surma Jiban Bima Corporation, the Rupsa Jiban Bima Corporation, the Karnaphuly Bima Corporation and the Teesta Bima Corporation, and for the dissolution of the Bangladesh Jatiya Bima Corporation, and for matters connected therewith or incidental thereto;
 
CONTENTS
 
SECTIONS
 
1. Short title, extent and commencement
2. Definitions
3. This Act and rules to override other laws
4. Establishment of the Corporations
5. Capital
6. General direction
7. Board
8. Managing Director
9. Qualifications and disqualifications of Directors
10. Meetings of the Board
11. Committees
12. Functions
13. Head office
14. Transfer of undertakings of existing Bima Corporations
14A. Transfer of certain immovable property by a Corporation
15. Appointment of officers and employees
16. Annual budget statement
17. Investment
18. Borrowings
19. Accounts and audit
20. Actuarial valuation
21. Returns, etc.
22. Profit
23. Public Property to be insured with the Sadharan Bima Corporation only
23A. Re-insurance
24. Guarantee of policies
25. Winding up of the Corporations
26. [Omitted]
27. Indemnity
28. Delegation of powers
29. Act IV of 1938 to apply
30. Power to make rules
31. Power to make regulations
32. Dissolution of the Jatiya Bima Corporation
33. Exemption from registration
34. Repeal
 
 

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Ministry of Law, Justice and Parliamentary Affairs