LawgistThe Insurance Act
53AUnpaid-up share capital
1[53A. Unpaid-up share capital.--Notwithstanding anything contained in any other law, in ascertaining for any purpose of this Act the solvency or otherwise of an insurer no account shall be taken of any assets of the insurer consisting of unpaid up share capital.]
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1. Ins. by Act 6 of 1946, s. 25 (w.e.f. 20-3-1946).
WINDING UP
- 53 Winding up by the Court
- 53A Unpaid-up share capital
- 54 Voluntary winding up
- 55 Valuation of liabilities
- 56 Application of surplus assets of life insurance fund in liquidation or insolvency
- 57 Winding up of secondary companies
- 58 Schemes for partial winding up of insurance companies
- 59 [Omitted.]
- 60 Notice of policy values
- 61 Power of Court to reduce contracts of insurance
- 61A Appeal to National Company Law Appellate Tribunal
