THE INSURANCE ACT, 1938, PART V

PART V

MISCELLANEOUS

Penalty for default in complying with, or act in contravention of this Act102. (1) Except as otherwise provided in this Act, any insurer who makes default in complying with or acts in contravention of any requirement of this Act, and, where the insurer is a company, any director, managing agent, manager or other officer of the company, or where the insurer is a firm, any partner of the firm who is knowingly a party to the default, shall be punishable with fine which may extend to 131[one lakh Taka and not less than fifty thousand Taka] and, in the case of a continuing default, with an additional fine which may extend to 132[ten thousand Taka] for every day during which the default continues.

(2) Any provident society as defined in Part III which makes default in complying with or acts in contravention of any of the requirements of this Act and any director, managing

agent, manager, secretary or other officer of the society who is knowingly a party to the default or contravention, shall be punishable with fine which may extend to 133[five thousand Taka] or, in the case of a continuing default or contravention with fine which may extend to 134[five hundred Taka] for every day during which the default or contravention continues.

Penalty for transacting insurance business in contravention of sections 3, 7 and 9103. (1) Any insurer or any person acting on behalf of an insurer, who carries on any class of insurance business in contravention of any of the provisions of section 3, section 7, or section 98, or does any one or more of the acts constituting the business of insurance in relation to any insurance business carried on in contravention of any of the said sections shall be punishable with fine which may extend to 135[ten thousand Taka].

(2) Any person knowingly taking out a policy of insurance with any insurer or person guilty of an offence under sub-section (1) shall be punishable with fine which may extend to 136[five thousand Taka]:

Provided that nothing in sub-section (1) or sub-section (2) shall apply to the business of re-insurance between the head office of an insurer in Bangladesh and the head office of an insurer not having an office in Bangladesh.

(3) Any provident society or any person acting on behalf of a provident society who carries on any class of insurance business in contravention of any of the provisions of section 70, section 73 or section 83 or does any one or more of the acts constituting the business of insurance in relation to any insurance business carried on in contravention of any of the said sections shall be punishable with fine which may extend to one thousand Taka.

Penalty for false statement in document104. Whoever, in any return, report, certificate, balance-sheet or other document, required by or for the purposes of any of the provisions of this Act, wilfully makes a statement false in any material particular, knowing it to be false, shall be punishable with imprisonment for a term which may extend to three years, or with fine which may extend to 137[ten thousand Taka], or with both.

Wrongfully obtaining or withholding property105. (1) Any director, managing agent, manager or other officer or employee of an insurer who wrongfully obtains possession of any property of the insurer or having any such property in his possession wrongfully withholds it or wilfully applies it to purposes other than those expressed or authorised by this Act shall on the complaint of the Chief Controller of Insurance made after giving the insurer not less than fifteen days’ notice of his intention, or, on the complaint of the insurer or any member or any policy-holder thereof, be punishable with fine which may extend to 138[ten thousand Taka] and may be ordered by the Court trying the offence to deliver up or refund within a time to be fixed by the Court any such property improperly obtained or wrongfully withheld or wilfully misapplied and in default to suffer imprisonment for a period not exceeding two years.

(2) This section shall apply in respect of a provident society as defined in Part III as it applies in respect of an insurer.

Power of Court to order restoration of property of insurer or compensation in certain cases106. (1) If, on the application of the Chief Controller or an Administrator appointed under section 52A or an insurer or any policy-holder or any member of an insurance company or the liquidator of an insurance company (in the event of the insurance company being in liquidation), the Court is satisfied-

(a) that any insurer (including in any case where the insurer is an insurance company any person who has taken part in the promotion or formation of the insurance company or any past or present director, managing agent,

manager, secretary or liquidator) or any officer, employee or agent of the insurer,-

(i) has misapplied or retained or become liable or become accountable for any money or property of the insurer; or

(ii) has been guilty of any misfeasance or breach of trust in relation to the insurer; or

(b) that any person, whether he is or has been in any way connected with the affairs of the insurer or not, is in wrongful possession of any money or property of the insurer or having any such money or property in his possession wrongfully withholds it or has converted it to any use other than that of the insurer, or

(c) that by reason of any contravention of the provisions of this Act, the amount of the life insurance fund has been diminished;

the Court may examine any such insurer, director, managing agent, manager, secretary or liquidator or any other officer, employee or agent of the insurer or such other person, as the case may be, and may compel him to contribute such sums to the assets of the insurer by way of compensation in respect of the misapplication, retainer, misfeasance or breach of trust as the Court thinks fit, or to pay such sum as may be found due from him in respect of any money or property of the insurer for which he is liable or accountable or to restore any money or property of the insurer or any part thereof, as the case may be; and where the amount of the life insurance fund has been diminished by reason of any contravention of the provisions of this Act, the Court shall have power to assess the sum by which the amount of the fund has been diminished and to order the person guilty of such contravention to contribute to the fund the whole or any part of that sum by way of compensation; and in any of the aforesaid cases the Court shall have power to order interest to be paid at such rate and from such time as the Court may deem fit.

(2) Without prejudice to the provisions contained in sub-section (1) or sub-section (3), where it is proved that any money or property of an insurer has disappeared or has been lost, the Court shall presume that every person in charge of, or

having a disposing power over, such money or property at the relevant time (whether a director, manager, principal officer or any other officer) has become accountable for such money or property within the meaning of sub-clause (i) of clause (a) of sub-section (1), and the provisions of that sub-section shall apply accordingly, unless such person proves that the money or property has been utilised or disposed of in the ordinary course of the business of the insurer and for the purpose of that business or that he took all reasonable steps to prevent the disappearance or loss of such money or property or otherwise satisfactorily accounts for such disappearance or loss.

(3) Where the insurer is an insurance company and any of the acts referred to in clauses (a), (b) and (c) of sub-section (1) has been committed by any person, every person who was at the relevant time a director, managing agent, manager, liquidator, secretary or other officer of the insurance company shall, for the purposes of that sub-section be deemed to be liable for that act in the same manner and to the same extent as the person who has committed the act, unless he proves that act was committed without his consent or connivance and was not facilitated by any neglect or omission on his part.

(4) Where at any stage of the proceedings against any person under this section (hereinafter referred to as the delinquent), the Court is satisfied by affidavit or otherwise-

(a) that a prima facie case has been made out against the delinquent; and

(b) that it is just and proper so to do in the interests of the policy-holders of an insurer or of the members of an insurance company, the Court may direct the attachment of-

(i) any property of the insurer in the possession of the delinquent;

(ii) any property of the delinquent which belongs to him or is deemed to belong to him within the meaning of sub-section (5);

(iii) any property transferred by the delinquent within two years before the commencement of the proceedings under sub-section (1) or during the pendency of such proceedings, if the Court is satisfied by affidavit or otherwise that the transfer was otherwise than in good faith and for consideration.

(5) For the purposes of sub-section (4), the following classes of property shall be deemed to belong to a delinquent:-

(a) any property standing in the name of any person which by reason of the person being connected with the delinquent, whether by way of relationship or otherwise, or on account of any other relevant circumstances appears to belong to the delinquent;

(b) the property of a private company in respect of the affairs of which the delinquent, by himself or through his nominees, relatives, partners or persons interested in any shares of the company is able to exercise or is entitled to acquire control, whether direct or indirect.

Explanation.- For the purposes of this section a person shall be deemed to be a nominee of a delinquent, if, whether directly or indirectly, he possesses on behalf of the delinquent, or may be required to exercise on the direction or on behalf of the delinquent, any right or power which is of such a nature as to enable the delinquent to exercise or to entitle the delinquent to acquire control over the company’s affairs.

(6) Any claim to any property attached under this section or any objection to such attachment shall be made by an application to the Court and it shall be for the claimant or objector to adduce evidence to show that the property is not liable to attachment under this section, and the Court shall proceed to investigate the claim or objection in a summary manner.

(7) When disposing of an application under sub-section (1), the Court shall, after giving all persons who appear to it to be interested in any property attached under this section an opportunity of being heard, make such order as it thinks fit respecting the disposal of any such property for the purpose of effectually enforcing any liability under this section, and all such persons shall be deemed to be parties to the proceedings under this section.

(8) In any proceedings under this section the Court shall have full powers and exclusive jurisdiction to decide all questions of any nature whatsoever arising thereunder and in particular, with respect to any property attached under this section, and no other Court shall have jurisdiction to decide any such question in any suit or other legal proceeding.

(9) In making any order with respect to the disposal of the property of any private company referred to in clause (b) of sub-section (5), the Court shall have due regard to the interests of all persons interested in such property other than the delinquent and persons referred to in that clause.

(10) This section shall apply notwithstanding that the act is one for which the person concerned may be criminally liable.

(11) In proceedings under this section the Court shall have all the powers which a Court has under section 237 of the Companies Act, 1913.

(12) This section shall apply in respect of a provident society as defined in Part III as it applies in respect of an insurer.

(13) The Court entitled to exercise jurisdiction under this section shall be the High Court Division 139[* * *] and any proceedings under this section pending immediately before the commencement of the Insurance (Amendment) Ordinance, 1960, in any Court other than the High Court Division shall, on such commencement, stand transferred to the High Court Division.

(14) The 140[Supreme Court] may make rules providing for-

(a) the manner in which enquiries and proceedings may be held under this section;

(b) any other matter for which provision has to be made for enabling the High Court Division effectively exercise its jurisdiction under this section.

Notice to and hearing of Chief Controller of Insurance141[106A. (1) When application is made to the Court for the making of any order to which this section applies the Court shall, unless the Chief Controller of Insurance has himself made the application or has been made a party thereto, send a copy of the application together with intimation of the date fixed for the hearing thereof to the Chief Controller of Insurance, and shall give him an opportunity of being heard.

(2) The orders to which this section applies are the following, namely:-

(a) an order for the attachment in execution of a decree of any deposit made under section 7 or section 98;

(b) an order under section 9 or section 59 for the return of any such deposit;

(c) an order under section 36 sanctioning any arrangement for the transfer or amalgamation of life insurance business or any order consequential thereon;

(d) an order for the winding up of an insurance company or a provident society;

(e) an order under section 58 confirming a scheme for the partial winding up of an insurance company;

(f) an order under section 89 reducing the amount of the insurance contracts of a provident society.]

Previous sanction of Attorney General for institution of proceedings107. (1) Except where proceedings are instituted by the Chief Controller of Insurance, no proceedings under this Act against an insurer or any director, manager or other officer of an insurer or any person who is liable under sub-section (2) of section 41 shall be instituted by any person unless he has previous thereto obtained the sanction of the 142[Attorney-General] to the institution of such proceedings.

(2) This section shall apply in respect of a provident society as defined in Part III as it applies in respect of an insurer.

Power of Court to grant relief108. If in any proceedings, civil or criminal, it appears to the Court hearing the case that a person is or may be liable in respect of negligence, default, breach of duty or breach of trust but that he has acted honestly and reasonably and that having regard to all the circumstances of the case he ought fairly to be excused for the negligence, default, breach of duty or breach of trust, the Court may relieve him either wholly or partly from his liability on such terms as it may think fit.

Cognizance of offences109. No Court inferior to that of a Magistrate of the first class shall try any offence under this Act.

Appeals110. (1) Except as otherwise provided in this Act, any person aggrieved by any order, direction or decision in respect of the following matters may, within a period of thirty days from the date of the communication of such order, direction or decision, appeal against it to the Insurance Appellate Tribunal constituted under sub-section (2), namely:-

(a) withholding of registration under section 3;

(b) cancellation of registration under clause (f) or clause (g) of sub-section (4) of section 3;

(c) alteration of memorandum and Articles of Association under section 3B;

(d) the mortality table, the statement of yield and the level of expenses published under sub-section (3) of section 3BB on the basis of which the rates of premium are required to be determined;

(e) withholding a certificate under section 3D for insurance or reinsurance outside Bangladesh;

(f) modification of reinsurance treaty or reinsurance arrangement under sub-section (6) of section 3D;

(g) change of name under section 5;

(h) any order issued under section 21;

(i) modification of remuneration under sub-section (1) of section 32A;

(j) any direction under section 34A;

(k) removal of a director, manager or other officer under section 34C;

(l) refusal to issue or renew, or cancellation of, a licence under section 42;

(m) refusal to issue or renew, or cancellation of, a certificate under section 42A;

(n) termination of a contract of an agent or employer of agents by an insurer;

(o) refusal to issue or renew, or cancellation of, a certificate under section 44A;

(p) refusal or cancellation of registration under section 70;

(q) refusal to renew registration under sub-section (1) of section 70A;

(r) imposition of penalty under sub-section (4) of section 70A;

(s) refusal to register amendment of rules under section 75;

(t) direction to remedy defects under section 87; and

(u) refusal to sanction a scheme under section 87A.

(2) The Government shall, for the purpose of hearing appeals under sub-section (1), constitute an Insurance Appellate Tribunal consisting of such number of members not exceeding seven, including a Chairman as it may appoint.

(3) The Chairman shall be a person who is qualified to be a Judge of the 143[Supreme Court] and the other members shall be persons possessing such qualifications and experience as may be prescribed.

(4) The Chairman and other members shall hold office for a period of three years from the date of appointment on such terms and conditions as may be prescribed.

(5) The Chairman may constitute such number of benches of the Tribunal as may be necessary for the expeditious disposal of appeals under sub-section (1); and each such bench shall consist of such number of members, not less than two, as may be prescribed.

(6) Subject to the provisions of this Act and the rules made thereunder, the Tribunal shall regulate its own procedure and shall, for the purpose of hearing an appeal, have the same powers as are vested in a civil Court trying a suit under the Code of Civil Procedure, 1908 (Act V of 1908), in respect of the following matters namely:-

(a) summoning and enforcing the attendance of any person and examining him on oath,

(b) requiring the discovery and production of any documents,

(c) receiving evidence on affidavits, and

(d) issuing commissions for the examination of witnesses or documents.

(7) If, in the course of the hearing of an appeal, any member of the Tribunal ceases, for any reason, to hold office, the proceedings of the Tribunal shall be stayed and the Government shall appoint another member in his place; and the hearing may continue before the Tribunal from the stage at which it was stayed as if there has been no change in the membership of the Tribunal.

(8) If, in the course of the hearing of an appeal, any one on the members is, for any reason, unable to attend the sitting of the Tribunal the hearing shall continue before, and the decision may be given by, the remaining members.

(9) If upon any matter requiring the decision of the Tribunal there is a difference of opinion amongst its members, the opinion of the majority shall prevail and the decision of the Tribunal shall be expressed in terms of the views of the majority:

Provided that where the members are equally divided on any point it shall,-

(a) in the case of the Tribunal or of a bench of which the Chairman is a member, be decided in accordance with the views of the Chairman; and

(b) in the case of a bench of which the Chairman is not a member, be referred to the Chairman and decided in accordance with his views.

(10) The Tribunal shall be deemed to be a civil Court for the purposes of section 195 of the Code of Criminal Procedure, 1898 (Act V of 1898), and a Court subordinate to the High Court Division 144[* * *] for the purpose of the Contempt of Courts Act, 1926 (XII of 1926), and any proceeding before the Tribunal shall be deemed to be a judicial proceeding within the meaning of sections 193 and 228 of the 145[Penal Code] (Act XLV of 1860).

(11) The Tribunal may issue a stay order against any order of the Government or the Chief Controller of Insurance.

(12) Any person aggrieved by a decision of the Tribunal may appeal to the High Court Division if the case is certified by the Tribunal, in the prescribed manner, to be a fit one for appeal to the High Court Division.

(13) In this section, unless the context otherwise requires,-

(a) “Chairman” means the Chairman of the Tribunal;

(b) “member” means a member of the Tribunal; and

(c) “Tribunal” means the Tribunal constituted under sub-section (2) and includes a bench thereof constituted under sub-section (5).

Delegation of powers and duties of Chief Controller of Insurance146[110A. The Chief Controller of Insurance may by general or special order delegate any of his powers or duties under this Act to any person subordinate to him. The exercise or discharge of any of the powers or duties so delegated shall be subject to such restrictions, limitations and conditions, if any, as the Chief Controller of Insurance may impose, and shall be subject to his control and revision.

Signature of documents110B. Every document which is required by this Act or by any rule made thereunder to be signed by the Chief Controller of Insurance or by any person subordinate to him or by any officer authorised by him under sub-section (1) of section 42 or sub-section (1) of section 42A or sub-section (4) of section 44A shall be deemed to be properly signed, if it bears a facsimile of the signature of such Chief Controller, person or officer printed, engraved, lithographed or impressed by any other mechanical process approved by the Government.]

Powers to call for information147[110C. (1) The Chief Controller may by notice in writing require any insurer to supply him any information relating to his insurance business and the insurer shall comply with such requirement within such period after the receipt of the notice as may be specified therein.

(2) Any information supplied under this section shall be certified by the principal officer if the insurer and if the notice so requires, also by an auditor.]

Service of notices111. (1) Any process or notice required to be served on an insurer or provident society shall be sufficiently served if addressed to any person registered with the Chief Controller of Insurance as a person authorised to accept notices on behalf of the insurer or provident society and left at, or sent by registered post to, the address of such person as registered with the Chief Controller of Insurance.

(2) Any notice or other document which is by this Act required to be sent to any policy-holder may be addressed and sent to the person to whom notices respecting such policy are usually sent and any notice so addressed and sent shall be deemed to be notice to the holder of such policy:

Provided that, where any person claiming to be interested in a policy as transferee, assignee or nominee has given to an insurer or to a provident society notice in writing of his interest, any notice which is by this Act required to be sent to policy-holders shall also be sent to such person at the address specified by him in his notice.

Declaration of interim bonuses112. Notwithstanding anything to the contrary contained in this Act an insurer carrying on the business of life insurance shall be at liberty to declare an interim bonus or bonuses to policy-holders whose policies mature for payment by reason of death or otherwise during the inter-valuation period on the recommendation of the investigating actuary made at the last preceding valuation.

Acquisition of surrender values policy113. 148[(1) A policy of life insurance under which the whole of the benefits become payable either on, or at a fixed interval or intervals after, the occurrence of a contingency which is bound to occur shall, if all premiums have been paid,-

(a) in the case of a policy issued by an insurer, for at least two consecutive years, and

(b) in the case of a policy issued by a provident society as defined in section 65, for at least five consecutive years,

acquire a guaranteed surrender value which shall not be less than the minimum guaranteed surrender value prescribed in respect of such policy.

(1A) In prescribing the minimum guaranteed surrender value for the purpose of sub-section (1), regard shall be had to the term of the policy and the contingency on the occurrence of which the benefits become payable.

(1B) Every insurer and every provident society shall within a period of one year-

(a) in the case of an insurer or society transacting business immediately before the commencement of the Insurance (Amendment) Ordinance, 1970, from such commencement, and

(b) in the case of an insurer or society registered after such commencement, from such registration,

submit to the Chief Controller of Insurance for his approval, a statement showing the basis and formula on which the guaranteed surrender value of the policies issued by such insurer or society is determined; and the Chief Controller of Insurance, before according his approval, may, after giving the insurer or the provident society an opportunity of being heard, direct such modifications to be made in the basis and formula as he may deem fit.

(1C) No basis and formula approved under sub-section (1B) shall be modified without the previous approval in writing of the Chief Controller.]

(2) Notwithstanding any contract to the contrary and subject to any option exercised by the policy-holder under section 50A, a policy which has acquired a surrender value shall not lapse by reason of the non-payment of further premiums but shall be kept alive to the extent of the paid-up sum insured, and the paid-up sum insured shall for the purposes of this sub-section include in full all subsisting reversionary bonuses that have already attached to the policy, and shall, where the policy is one on which the maximum number of annual premiums payable is fixed and the premiums are of uniform amount, be before the inclusion of such bonuses not less than the amount bearing to the total sum insured by the policy exclusive of bonuses the same proportion as the total period for which premiums have already been paid bears to the maximum period for which premiums were originally payable.

(3) A policy kept alive to the extent of the paid-up sum insured under sub-section (2) shall not be entitled by virtue of that sub-section to participate in any profits declared distributable after the conversion of the policy into a paid-up policy.

(4) Sub-section (2) and sub-section (3) shall not apply,-

(a) where the paid-up sum insured by a policy, being a policy issued by an insurer, is less than one hundred Taka inclusive of any attached bonus, or takes the form of any annuity of less than twenty-five Taka, or where the paid-up sum insured by a policy, being a policy issued by a provident society as defined in Part III, is less than fifty Taka inclusive of any attached bonus or takes the form of an annuity of less than twenty-five Taka, or

(b) where the parties after the default has occurred in the payment of the premium agree in writing to some other arrangement, or

(c) to policies in which the surrender value is automatically applied under the terms of the contract to maintaining the policy in force after its lapse through non-payment of premium.

Power of Government to make rules114. (1) The Government may, subject to the condition of previous publication by notification in the official Gazette, make rules to carry out the purposes of this Act.

(2) In particular and without prejudice to the generality of the foregoing power, such rules may prescribe-

(a) the qualifications to be possessed by actuaries;

149[(aa) the form and language of documents issued to the public by insurers;

(aaa) the qualifications and experience which the principal officer of an insurer and any other officer of a class specified in the rules shall possess;]

(b) the manner in which it shall be determined which of the transactions of an insurer are to be deemed for the purposes of this Act to be insurance business transacted in Bangladesh;

(c) the procedure to be followed by the Bangladesh Bank in dealing with deposits made in pursuance of this Act, including the receipt of, custody of, withdrawal of, and payment of interest on securities lodged as such deposits, and their inspection and verification by the Chief Controller of Insurance;

150[* * *]

(e) the manner in which the prospectuses and tables referred to in sub-section (1) of section 41 shall be published and the form in which they shall be drawn up;

(f) the matters to be prescribed for the purposes of section 48;

(g) the manner in which licences to act as insurance agents may be applied for, issued or cancelled;

(h) the contingencies other than those specified in clauses (a) to (f) of sub-section (2) of section 65 on the happening of which money may be paid by provident societies;

(i) the matters other than those specified in clauses (a) to (o) of sub-section (1) of section 74 on which a provident society shall make rules;

(j) the form of any account, return or register required by Part III and the manner in which such account, return or register shall be verified;

(k) subject to the provisions of this Act, the fees payable thereunder and the manner in which they are to be collected;

(l) the conditions and the matters which may be prescribed under sub-sections (5), (6), (10) and (12) of section 92;

(m) any other matter which is to be or may be prescribed.

(3) [Omitted by section 11 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993).]

(4) [Omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973).]

Power to amend Schedules151[114A. The Government may, by notification in the official Gazette, make such amendments in the Schedules as it may deem fit.

Powers of the Chief Controller114B. The Chief Controller shall exercise the powers given to him by or under this Act in accordance with such general or special directions, if any, as may be issued by the Government.]

Alteration of forms115. The Government may, on the application or with the consent of an insurer, not being a company, alter the forms contained in the Schedules as respects that insurer, for the purpose of adapting them to the circumstances of that insurer:

Provided that nothing done under this section shall exempt the insurer from supplying all information required under this Act so far as it is possible for the insurer to do so.

[Omitted.]116. [Power to exempt from certain requirements.- Omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973).]

Summary returns to be published152[116A. The Government shall every year cause to be published, in such manner as it may direct, a summary of the accounts, balance-sheets, statements, abstracts and other returns under this Act or purporting to be under this Act which have been furnished in pursuance of the provisions of this Act to the Chief Controller of Insurance during the year preceding the year of publication, and may append to such summary any note of the Chief Controller of Insurance or of the Government and any correspondence:

Provided that nothing in this section shall require the publication of the statement referred to in sub-section (2) of section 10 or sub-section (4) of section 13 in respect of the first valuation of an insurer or sub-section (2) of section 32A or section 42B or of the returns referred to in sub-section (1) of section 28.]

Saving of provisions of Companies Act, 1913117. Nothing in this Act shall affect the liability of an insurer being a company or a provident society as defined in Part III being a company to comply with the provisions of the Companies Act, 1913, in matters not otherwise specifically provided for by this Act.

Exemptions118. Nothing in this Act shall apply to any Trade Union registered under the 153[Industrial Relations Ordinance, 1969] or to any insurance business carried on by the Government, or to any provident fund to which the provisions of the Provident Funds Act, 1925, apply, or, if the Chief Controller of Insurance so orders in any case, and to such extent or subject to such conditions or modifications as he specifies in such order, to-

(a) any fund in existence and officially recognised by the Government before the 27th day of January, 1937, maintained by or on behalf of Government servants or Government pensioners for the mutual benefit of contributors to the fund and of their dependents, or

(b) any mutual or provident insurance society composed wholly of Government servants or of railway servants which has been exempted from any or all of the provisions of the Provident Insurance Societies Act, 1912.

Inspection and supply of copies of published prospectus, etc.119. Any person may on payment of a fee of five Taka inspect the documents filed by an insurer with the Chief Controller of Insurance under clause (f) of sub-section (2) of section 3, and may obtain a copy of any such document or part thereof on payment in advance at the prescribed rate for the making of the copy.

Determination of market value of securities deposited under this Act120. The market value on the day of deposit of securities deposited in pursuance of any of the provisions of this Act with the Bangladesh Bank shall be determined by the Bangladesh Bank whose decision shall be final.

Advisory Board154[120A. The Government shall constitute an Advisory Board to advise the Chief Controller in the performance of his duties under this Act.]

Publicity Board155[120AA. The Government may constitute a Publicity Board to perform such functions as may be prescribed.]

[Omitted.]120B. [Regional Offices.- Omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973).]

]121, 122 and 123. [Amendment of section 130, Act IV of 1882., Amendment of Schedule I, Act IX of 1908 and Repeals.- Omitted by section 3 and 2nd Schedule of the Repealing and Amendment Ordinance, 1965 (Ordinance No. X of 1965).]

1 Clause (2) was renumbered as clause (13D) by section 2 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958) and has been inserted after clause (13C) of this law

2 Clause (3) was substituted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

3 Clause (3A) was originally inserted by section 2 of the Insurance (Amendment) Act, 1953 (Act No. XI of 1953) and substituted by section 2 of the Insurance (Amendment) Ordinance, 1961 (Ordinance No. XXXIII of 1961)

4 Clauses (5A) and (5B) were inserted by section 2 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

5 Clauses (6A), (6B) and (6C) were inserted by section 2 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

6 Clause (7A) was inserted by section 2 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

7 Clause (8A) was inserted by section 2 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

8 The word “and” was omitted by section 2 of the Insurance (Amendment) Act, 1990 (Act No. XXVI of 1990)

9 Sub-clause (d) was added by section 2 of the Insurance (Amendment) Act, 1990 (Act No. XXVI of 1990)

10 Clauses (13A), (13B) and (13C) were inserted by section 2 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

11 Clause (13AA) was inserted by section 2 of the Insurance (Amendment) Ordinance, 1970 (Act No. XXV of 1970)

12 The words, brackets, figures and commas “clause (6B), excluding sub-clause (d) of clause (11) and clause (13A)” were substituted for the words, brackets, figures and comma “clauses (6B), (11) and 13(A)” by section 2 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

13 Clause (13C) was omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

14 The original clause (2) was renumbered as clause (13D) and has been inserted after clause (13C) accordingly by section 2 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958).

15 Clauses (14A) and (14B) were inserted by section 2 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

16 Clause (15) was substituted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

17 Sections 2A and 2B were inserted by section 2A of the Insurance (Amendment) Act, 1939 (Act No. XI of 1939)

18 Section 2C was inserted by section 3 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

19 The word “any” was substituted for the words, commas and figure “the Co-operative Societies Act, 1912, or under any other” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

20 Sub-section (1A) was inserted by section 2 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

21 The words, brackets, letters and figures “specified in clause (c) of sub-section (1) of section 2C or to any Provident Society or Mutual Insurance Company” were omitted by section 3 of the Insurance (Amendment) Act, 1990 (Act No. XXVI of 1990)

22 The words “five lakh Taka” were substituted for the words “ten thousand Taka” by section 2 of the Insurance (Amendment) Act, 2004 (Act No. IV of 2004)

23 Sub-sections (5A) to (5D) were inserted by section 3 of the Insurance (Amendment) Act, 1940 (Act No. XX of 1940)

24 The words “five hundred Taka” were substituted for the words “twenty-five Taka” by section 2 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

25 Section 3A was inserted by section 4 of the Insurance (Amendment) Act, 1941 (Act No. XIII of 1941)

26 The words “three Taka and fifty poisha” were substituted for the words “one Taka and fifty poisha” by section 3 of the Insurance (Amendment) Act, 2004 (Act No. IV of 2004)

27 The words “Sonali Bank” were substituted for the words “National Bank of Pakistan” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

28 Section 3AA was inserted by section 4 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

29 Section 3B was inserted by section 4 of the Insurance (Amendment) Act, 1946 (Act No. VI of 1946)

30 Section 3BB was inserted by section 5 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

31 Section 3BBB was inserted by section 4 of the Insurance (Amendment) Act, 1990 (Act No. XXVI of 1990).

32 Sections 3C and 3D were inserted by section 7 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958).

33 The proviso was omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

34 Sections 3E and 3F were inserted by section 8 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

35 The words “twenty-thousand Taka” were substituted for the words “one thousand Taka” by section 4 of the Insurance (Amendment) Act, 2004 (Act No. IV of 2004)

36 Section 6 was substituted by section 5 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

37 Sub-section (1) was substituted for sub-section (1) by section 6 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

38 Sub-sections 9, (9A) and (9B) were substituted for the original sub-section (9), by section 4 of the Insurance (Amendment) Act, 1940 (Act No. XX of 1940)

39 Sub-sections 9, (9A) and (9B) were substituted for the original sub-section (9), by section 4 of the Insurance (Amendment) Act, 1940 (Act No. XX of 1940)

40 Sub-sections 9, (9A) and (9B) were substituted for the original sub-section (9), by section 4 of the Insurance (Amendment) Act, 1940 (Act No. XX of 1940)

41 Sub-sections 9, (9A) and (9B) were substituted for the original sub-section (9), by section 4 of the Insurance (Amendment) Act, 1940 (Act No. XX of 1940)

42 The words “two Taka” were substituted for the words “thirty seven poisha” by section 8 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

43 Clauses (i) and (ii) were substituted for clauses (i), (ii) and (iii) by section 2 of the Insurance (Amendment) Act, 2000 (Act No. XIV of 2000)

44 Sub-section (2A) was inserted by section 12 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

45 Section 27A was inserted by section 5 of the Insurance (Amendment) Ordinance, 1960 (Ordinance No. V of 1960)

46 Section 27B was inserted by section 14 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

47 The words “as may be decided by the Board of Directors of the insurer” were substituted for the words “as may be prescribed” by section 3 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

48 The words “as may be decided by the Board of Directors of the insurer” were substituted for the words “as may be prescribed” by section 3 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

49 The words “as may be decided by the Board of Directors of the insurer” were substituted for the words “as may be prescribed” by section 3 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

50 The colon (:) was substituted for the semi-colon (;) at the end of sub-clause (c) and the proviso was added thereafter by section 3 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

51 Sections 32A and 32B were inserted by section 28 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

52 Sections 34A, 34B and 34C were inserted by section 18 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

53 The words “in an Acceding State or in a non Acceding State” were omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

54 Sub-section (1) was substituted by section 4 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

55 Sub-section (1B) was inserted by section 6 of the Insurance (Amendment) Ordinance, 1960 (Ordinance No. V of 1960)

56 The words and commas “in any form an amount exceeding, in the case of life insurance business,” were substituted for the words “in any form of in respect of life insurance business an amount exceeding” by section 4 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

57 The words and commas “or, in the case of business of any other class, fifteen per cent” were inserted by section 4 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

58 The words and comma “life insurance policy only,” were substituted for the words “life insurance policy” by section 4 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

59 Second proviso to sub-section (2) was omitted by section 6 of the Insurance (Amendment) Act, 1990 (Act No. XXVI of 1990)

60 Sub-section (2A) was inserted by section 21 of the Insurance (Amendment) Act, 1946 (Act No. VI of 1946)

61 Sections 40A to 40D were inserted by section 34 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

62 Sub-sections (2) and (3) were substituted by section 5 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

63 Sub-sections (3A), (3B) and (3C) were inserted by section 20 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

64 The commas, brackets and figures “, (2), (3)” were inserted by section 5 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

65 The comma and the words “, including commission or remuneration for procuring business” were inserted by section 6 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

66 The words “two hundred” were substituted for the words “twenty” by section 7 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

67 The words “three hundred” were substituted for the words “thirty” by section 7 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

68 Sub-sections (6), (7) and (8) were substituted by section 7 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

69 The words “two hundred Taka” were substituted for the words “one hundred Taka” by section 5 of the Insurance (Amendment) Act, 2004 (Act No. IV of 2004)

70 The words and commas “or clause (i) of sub-section (7)” were inserted by section 7 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

71 Sub-section (10) was inserted by section 7 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

72 The words and commas “or a licence in respect of general insurance business” were inserted by section 7 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

73 Section 42A was inserted by section 36 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958) and subsequently substituted by section 22 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

74 The word “five” was substituted for the word “one” by section 8 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

75 The words “seven hundred and fifty” were substituted for the words “one hundred and fifty” by section 8 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

76 The words “seven hundred and fifty” were substituted for the words “one hundred and fifty” by section 8 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

77 The words “two hundred and fifty” were substituted for the words “twenty-five” by section 8 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

78 The words “seven hundred and fifty” were substituted for the words “one hundred and fifty” by section 8 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

79 Sub-sections (7), (8) and (9) were substituted by section 8 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

80 Section 42B was inserted by section 38 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

81 Section 43A was inserted by section 23 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

82 Sections 44A and 44B were inserted by section 38 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

83 The words “two thousand Taka” were substituted for the words “fifty Taka” by section 6 of the Insurance (Amendment) Act, 2004 (Act No. IV of 2004)

84 The words “one thousand Taka” were substituted for the words “fifty Taka” by section 6 of the Insurance (Amendment) Act, 2004 (Act No. IV of 2004)

85 Sub-section (6A) was inserted by section 25 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

86 Section 47A was inserted by section 39 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

87 Sections 47B to 47L were inserted by section 27 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

88 The words “the Supreme Court” were substituted for the words “a High Court” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

89 Sub-section (1A) was inserted by section 28 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

90 Sub-section (2A) was inserted by section 3 of the Insurance (Amendment) Act, 1944 (Act No. VII of 1944)

91 Section 48A was inserted by section 24 of the Insurance (Amendment) Act, 1946 (Act No. VI of 1946) which was later substituted by section 29 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

92 Sections 48B, 48BB, 48BBB and 48BBBB were substituted for section 48B by section 11 of the Insurance (Amendment) Act, 1990 (Act No. XXVI of 1990)

93 Section 48B was substituted by section 3 of the Insurance (Amendment) Act, 2000 (Act No. XIV of 2000)

94 Section 48C was substituted by section 7 of the Insurance (Amendment) Act, 2004 (Act No. IV of 2004)

95 Section 48CC was substituted by section 9 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

96 The words, figures and comma “or to the Central Government under section 11 of the Indian Life Assurance Companies Act, 1912” were omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

97 The words, figures and comma “or to the Central Government under section 11 of the Indian Life Assurance Companies Act, 1912” were omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

98 Section 49A was inserted by section 9 of the Insurance (Amendment) Ordinance, 1961 (Ordinance No. XXXIII of 1961) which was later substituted by section 30 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

99 The words “ninety” was substituted for the words “ninety-two and one-half” by Section 10 of the Insurance (Amendment) Act, 1993 (Act No. XII of 1993)

100 Section 50A was inserted by section 31 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

101 The heading and sections 52A to 52H were inserted by section 9 of the Insurance (Amendment) Ordinance, 1960 (Ordinance No. V of 1960)

102 The words “Penal Code” were substituted for the words “Pakistan Penal Code” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

103 The words “Penal Code” were substituted for the words “Pakistan Penal Code” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

104 Section 53A was inserted by section 25 of the Insurance (Amendment) Act, 1946 (Act No. VI of 1946)

105 The word “Government” was substituted for the words “Provincial Government with the approval of the Central Government” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

106 Sub-section (3A) was inserted by section 32 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

107 Sections 70A and 70B were inserted by section 40 of the Insurance (Amendment) Act, 1941 (Act No. XIII of 1941)

108 The words and comma “into the Imperial Bank of India acting as the agent of that Bank, or” were omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

109 Section 73A was inserted by section 32 of the Insurance (Amendment) Act, 1946 (Act No. VI of 1946)

110 The words “shall cause every scheme of insurance which it proposes to put into operation” were substituted for the commas, words and figure “, registered after the commencement of this Act, shall cause every scheme of insurance which it proposes to put into operation, and every provident society registered before the commencement of this Act under the provisions of the Provident Insurance Societies Act, 1912, shall cause any scheme which it proposes to put into operation for the first time after such commencement” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

111 Sub-section (3A) was inserted by section 13 of the Insurance (Amendment) Act, 1940 (Act No. XX of 1940)

112 Section 87A was inserted by section 38 of the Insurance (Amendment) Act, 1946 (Act No. VI of 1946)

113 The words “or an Acceding State or a non-Acceding State” were omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

114 Section 90A was inserted by section 40 of the Insurance (Amendment) Act, 1946 (Act No. VI of 1946)

115 The words “local” was omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

116 The words “circulating in the province in which the society is situated” were omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

117 The words “local” was omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

118 The words “circulating in the province in which the society is situated” were omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

119 Clause (b) was substituted by section 12 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

120 The proviso to clause (b) was omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973).

121 The word “Life” was omitted by section 12 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

122 Application of Act to Mutual Insurance Companies and Co-operative [* * *] Insurance Societies

123 The word “Life” was omitted by section 12 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

124 Sections 97, 98 and 98A were substituted for former sections 97, 98 and 98A, by section 12 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

125 The word “Life” was omitted by section 12 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

126 The word “Life” was omitted by section 12 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

127 The word “Life” was omitted by section 12 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

128 The proviso was omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

129 The word “Life” was omitted by section 12 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

130 The words “of the Province in which the Co-operatives Life Insurance society is registered” were omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

131 The words “one lac Taka and not less than fifty thousand Taka” were substituted for the words “ten thousand Taka” by section 8 of the Insurance (Amendment) Act, 2004 (Act No. IV of 2004)

132 The words “ten thousand Taka” were substituted for the words “one thousand Taka” by section 8 of the Insurance (Amendment) Act, 2004 (Act No. IV of 2004)

133 The words “five thousand Taka” were substituted for the words “five hundred Taka” by section 13 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

134 The words “five hundred Taka” were substituted for the words “two hundred and fifty Taka” by section 13 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

135 The words “ten thousand Taka” were substituted for the words “two thousand Taka” by section 14 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

136 The words “five thousand Taka” were substituted for the words “five hundred Taka” by section 14 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

137 The words “ten thousand Taka” were substituted for the words “one thousand Taka” by section 15 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

138 The words “ten thousand Taka” were substituted for the words “one thousand Taka” by section 16 of the Insurance (Amendment) Ordinance, 1984 (Ordinance No. L of 1984)

139 The words and brackets “within whose jurisdiction the registered office of the insurer is situate (hereinafter referred to as the High Court)” were omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

140 The words “Supreme Court” were substituted for the words “High Court” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

141 Section 106A was inserted by section 14 of the Insurance (Amendment) Act, 1940 (Act No. XX of 1940)

142 The words “Attorney-General” were substituted for the words “Advocate General of the Province where the principle place of the business in Pakistan of such insurer is situated” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

143 The words “Supreme Court” were substituted for the words “High Court” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

144 The words “within the territorial limits of whose jurisdiction the Tribunal sits to hear appeal” were omitted by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

145 The words “Penal Code” were substituted for the words “Pakistan Penal Code” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

146 Sections 110A and 110B were inserted by section 15 of the Insurance (Amendment) Act, 1940 (Act No. XX of 1940)

147 Section 110C was inserted by section 47 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

148 Sub-sections (1), (1A), (1B) and (1C) were substituted for the former sub-section (1) by section 36 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

149 Clauses (aa) and (aaa) were inserted by section 37 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

150 Clause (d) was omitted by section 48 of the Insurance (Amendment) Act, 1958 (Act No. XXVI of 1958)

151 Sections 114A and 114B were inserted by section 38 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)

152 Sections 116A was inserted by section 64 of the Insurance (Amendment) Act, 1941 (Act No. XIII of 1941)

153 The words, comma and figure “Industrial Relations Ordinance, 1969” were substituted for the words, comma and figure “Trade Unions Act, 1926” by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)

154 Sections 120A was inserted by section 50 of the Insurance (Amendment) Act, 1958 (Act No. XXVII of 1958)

155 Section 120AA was added by section 39 of the Insurance (Amendment) Ordinance, 1970 (Ordinance No. XXV of 1970)