AN ACT to establish the National Insurance Commission, to provide for the regulation and supervision of the insurance market and for related matters.Passed by Parliament and assented to by the President
1. Establishment of the Commission
(1)There is established by this Act, the National Insurance Commission as a body corporate.(2)The Commission may, for the performance of the functions of the Commission, acquire and hold property, dispose of property and enter into a contract or any other related transaction.(3)Where there is a hindrance to the acquisition of land, the land may be acquired for the Commission under the Land Act, 2020 (Act 1036) and the cost shall be borne by the Commission.
2. Objects of the Commission
(1)The objects of the Commission a…
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