Life Insurance Corporation Act, 1956 · Chapter II: Establishment of Life Insurance Corporation of India
Section 5D: Shares to be securities
-Notwithstanding anything contained in the Securities Contracts (Regulation) Act, 1956 (42 of 1956) or any other law for the time being in force, the shares of the Corporation shall be deemed to be securities as defined under the said Act.]
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 5D
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