General Insurance Business (Nationalisation) Act, 1972 · Chapter III: General Insurance Corporation of India
Section 10: Transfer to Corporation of shares vested in Central Government
All the shares in the capital of every Indian insurance company which stand transferred to and vested in the Central Government by virtue of section 4 with the exception of the shares transferred to any person under sub-section (2) of that section shall immediately after such vesting, stand transferred to and vested in the Corporation and every Indian insurance company shall forthwith give effect to such transfer of shares and rectify its register of members by including therein the Corporation as the holder of such shares.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 10
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