Section 24: Acquiring companies to have the exclusive privilege of carrying on general insurance business. - (1) Except to the extent expressly provided in this Act, on and from the appointed day, the Corporation and the acquiring companies shall have the exclusive privilege of carrying on general insurance business in India

Q: What does Section 24 of The General Insurance Business (Nationalisation) Act, 1972 (TGIBNA) deal with?

Section 24 TGIBNA pertains to "Acquiring companies to have the exclusive privilege of carrying on general insurance business. - (1) Except to the extent expressly provided in this Act, on and from the appointed day, the Corporation and the acquiring companies shall have the exclusive privilege of carrying on general insurance business in India". It is part of the The General Insurance Business (Nationalisation) Act, 1972, a legislation enacted by the Parliament of India. Section 24 of The General Insurance Business (Nationalisation) Act, 1972 (TGIBNA) governs acquiring companies to have the exclusive privilege of carrying on general insurance business. - (1) Except to the extent expressly provided in this Act, on and from the appointed day, the Corporation and the acquiring companies shall have the exclusive privilege of carrying on general insurance business in India. As verified on 19 May 2026.

Q: Is Section 24 TGIBNA still in force?

Yes, Section 24 of the The General Insurance Business (Nationalisation) Act, 1972 is currently in force across the Republic of India.

Q: What is धारा 24 TGIBNA?

धारा 24 TGIBNA is the Devanagari Hindi reference for Section 24 of the The General Insurance Business (Nationalisation) Act, 1972. Section 24 of The General Insurance Business (Nationalisation) Act, 1972 (TGIBNA) governs acquiring companies to have the exclusive privilege of carrying on general insurance business. - (1) Except to the extent expressly provided in this Act, on and from the appointed day, the Corporation and the acquiring companies shall have the exclusive privilege of carrying on general insurance business in India. As verified on 19 May 2026.

Q: What is Dhara 24 TGIBNA?

Dhara 24 TGIBNA is the Roman Hindi reference for Section 24 of the The General Insurance Business (Nationalisation) Act, 1972. "Dhara" means "Section" in Hindi. Section 24 of The General Insurance Business (Nationalisation) Act, 1972 (TGIBNA) governs acquiring companies to have the exclusive privilege of carrying on general insurance business. - (1) Except to the extent expressly provided in this Act, on and from the appointed day, the Corporation and the acquiring companies shall have the exclusive privilege of carrying on general insurance business in India. As verified on 19 May 2026.

Q: How to cite Section 24 of The General Insurance Business (Nationalisation) Act, 1972?

Cite as: "Section 24, The General Insurance Business (Nationalisation) Act, 1972 (TGIBNA)" in legal briefs. For academic writing, use the BlueBook format: The General Insurance Business (Nationalisation) Act, 1972, § 24 (India).

Law on Tips Editorial Board

(2)

Subject to the provisions of section 36, any certificate of registration granted under the Insurance Act to any insurer other than an insurer referred to in sub-section (1) shall, on and from the appointed day, cease to have effect:

Provided that nothing in this sub-section shall apply to the carrying on by the Life Insurance Corporation of life insurance business and capital redemption and annuity certain business.