United India Fire and General Insurance Company Limited (Merger) Amendment Scheme, 2022- (Ministry of Finance ) (13 Apr 2022)

MANU/FNSV/0009/2022

Commercial

In exercise of the powers conferred by sub-section (1) and sub-section (6) of section 16 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972), the Central Government hereby makes the following Scheme further to amend the United India Fire and General Insurance Company Limited (Merger) Scheme, 1973, namely:-

1. (1) This Scheme may be called the United India Fire and General Insurance Company Limited (Merger) Amendment Scheme, 2022.

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

2. In the United India Fire and General Insurance Company Limited (Merger) Scheme, 1973,-

(i) in paragraph 10, for the words "five thousand crore divided into five hundred crore", the words "seven thousand five hundred crore divided into seven hundred fifty crore" shall be substituted;

(ii) in the Second Schedule, -

(a) in Part I, in paragraph 2, for the words "five thousand crore divided into five hundred crore", the words "seven thousand five hundred crore divided into seven hundred fifty crore" shall be substituted;

(b) in Part II, in paragraph 1, for the words "five thousand crore divided into five hundred crore", the words "seven thousand five hundred crore divided into seven hundred fifty crore" shall be substituted.

Tags : MERGER AMENDMENT SCHEME 2022