116. Power to exempt from certain requirements
[(1)] The Central Government may, by notification in the Official Gazette, exempt any insurer constituted, incorporated or domiciled in [any country or State outside [India]] [from any of the provisions of this Act which may be specified in the notification] either absolutely or subject to such conditions or modification as may be specified in the notification.
* * * * * [(2) This section shall apply in respect of provident societies as defined in Part III as it applies in respect of insurers.]
Amendment notes (6)
- renumbered w.e.f. 8-4-1941 . Section 116 renumbered as sub-section (1) thereof by Act 13 of 1941, s. 63 (w.e.f. 8-4-1941).
- Subs w.e.f. 1-6-1950 . Subs. by Act 47 of 1950, s. 60, for "a Part B State" (w.e.f. 1-6-1950).
- Subs w.e.f. 1-11-1956 . Subs. by Act 62 of 1956, s. 2 and the Schedule, for "the States" (w.e.f. 1-11-1956).
- Subs w.e.f. 10-4-1940 . Subs. by Act 20 of 1940, s. 17, for certain words (w.e.f. 10-4-1940).
- omitted w.e.f. 1-6-1950 . The proviso omitted by Act 47 of 1950, s. 60 (w.e.f. 1-6-1950)
- Added w.e.f. 8-4-1941 . Added by Act 13 of 1941, s. 63 (w.e.f. 8-4-1941).