Section 40 of The General Insurance Business (Nationalisation) Act, 1972
[Omission of section 14 of Act 17 of 1971.] Rep. by the Repealing and Amending Act, 1978 (38 of 1978), s. 2 and the First Schedule (w.e.f. 26-11-1978).
Summary
- When it was active, it served to omit (remove) Section 14 of an earlier law, specifically the General Insurance (Emergency Provisions) Act of 1971.
- This repeal was carried out by the Repealing and Amending Act of 1978.
- The repeal officially took effect on November 26, 1978.
Practical examples
FAQ
1. Is Section 40 currently enforced?
No, it was repealed in 1978.
2. What did Section 40 originally do?
It was simply a procedural section used to delete a part of an older 1971 emergency law.
Test yourself
Q1.Under Section 40 of The General Insurance Business (Nationalisation) Act, 1972, what is the current legal status of the section itself?
Q2.Under Section 40 of The General Insurance Business (Nationalisation) Act, 1972, the text mentions the omission of a "Section 14". How does this relate to Section 14 of the 1972 Act which allows shareholder payments to be redirected to named persons?
Q3.Under Section 40 of The General Insurance Business (Nationalisation) Act, 1972, on what exact date did the repeal of this section take effect?
Q4.Under Section 40 of The General Insurance Business (Nationalisation) Act, 1972, which specific piece of legislation was used to execute the repeal of this section?