SC: Under Order XXI Rule 102 CPC, A Transferee Pendente Lite Cannot Obstruct Execution of a Decree  ||  SC: RTE Act promotes fraternity and equality by children of judges and vendors studying together  ||  MP High Court: Aadhaar and Voter ID Cards are Not Definitive Proof of Date of Birth  ||  Chhattisgarh HC: Second Marriage During Subsisting First Marriage Void Unless Custom Permits It  ||  Allahabad HC: Will in Favor of Someone Does Not Affect Compassionate Appointment Based on Dependency  ||  MP High Court: Mere Illness of a Family Member, If Improving, is Not Sufficient for Interim Bail  ||  Bombay HC: ?25K Fine for Flying Kites With Nylon Manjha; Parents Must Ensure Responsible Conduct  ||  Delhi High Court: Home State Must be the First Preference For Claiming Insider IFS Cadre Allocation  ||  SC: Hindu Daughter-In-Law Widowed After Her Father-In-Law’s Death is Entitled to Maintenance  ||  SC: Vendor Remains a Necessary Party in Specific Performance Suits Even After Transferring Property    

Life Insurance Corporation of India (Staff) Amendment Rules, 2021- (Ministry of Finance ) (30 Jun 2021)

MANU/FNSV/0039/2021

Insurance

In exercise of the powers conferred by clause (cc) of sub-section (2) of section 48 of the Life Insurance Corporation Act, 1956 (31 of 1956), the Central Government hereby makes the following rules further to amend the Life Insurance Corporation of India (Staff) Regulations, 1960, namely:-

1. (1) These rules may be called the Life Insurance Corporation of India (Staff) Amendment Rules, 2021.

(2) They shall come into force on the date of their publication in Official Gazette.

2. In the Life Insurance Corporation of India (Staff) Regulations, 1960 (hereinafter referred to as the said regulations), for regulation 1, the following shall be substituted, namely:-

"(1) These rules may be called the Life Insurance Corporation (Staff) Rules, 1960.".

3. In the said regulations,-

(a) for the words "regulation" or "regulations" or "Regulations" wherever they occur (except in regulation 87), the words "rule" or "rules" or "Rules" shall, respectively, be substituted;

(b) for the words "sub-regulation" or "sub-regulations" wherever they occur, the words "sub-rule" or "sub-rules" shall, respectively, be substituted.

4. In regulation 3 of the said regulations, after clause (d), the following clause shall be inserted, namely:-

"(da) "Executive Director" shall mean any officer of the Corporation appointed as an Executive Director and so designated.”

5. In regulation 19 of the said regulations, after sub-regulation (4), the following sub-rule shall be inserted, namely:-

"(5) Notwithstanding anything contained in these rules, if the Central Government appoints the Chairman for a term of office that extends beyond sixty years of age, or extends his term of office to a period beyond the said age, he shall not superannuate till he completes such term, or till he attains the age of sixty-two years, whichever is earlier."

Tags : LIFE INSURANCE   STAFF   AMENDMENT RULES   2021  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved