General Insurance Business (Nationalisation) Act : Transfer to Corporation of shares vested in Central

General Insurance Business (Nationalisation) Act,1972

Act No : 57

Section : Transfer to Corporation of shares vested in Central Government.

10. Transfer to Corporation of shares vested in Central Government. All the shares in the capital of every Indian insurance company which stand transferred to and vested in the Central Government by virtue of section 4 [with the exception of the shares transferred to any person under sub-section (2) of that section] shall, immediately after such vesting, stand transferred to and vested in the Corporation and every Indian insurance company shall forthwith give effect to such transfer of shares and rectify its register of members by including therein the Corporation as the holder of such shares.