LIC of India Chairman (certain Terms and Conditions of Service)

Life Insurance Corporation of India Chairman (certain Terms and Conditions of Service) (Amendment) Rules, 2021.- NOTIFICATION

G.S.R. 479(E).— In exercise of the powers conferred by section 48 of the Life InsuranceCorporation Act, 1956 (31 of 1956), the Central Government hereby makes the following rules further to amend the Life Insurance Corporation of India Chairman (certain Terms and Conditions of Service) Rules, 1998, namely:—

1. (1) These rules may be called the Life Insurance Corporation of India Chairman (certain Terms and Conditions of Service) (Amendment) Rules, 2021.
   (2) They shall come into force on the date of their publication in the Official Gazette.
   
2. In the Life Insurance Corporation of India Chairman (certain Terms and Conditions of Service) Rules, 1998,—
   (a) in rule 1, in clause (a), for the word “Chairman”, the word “Chief Executive” shallbe substituted;
   (b) in rule 2, in clause (b), for the word „Chairman‟, the word „Chief Executive‟ shall besubstituted;
   (c) in rule 3, for the word “Chairman”, the word “Chief Executive” shall be substituted;
   (d) in rule 4, for the word “Chairman”, the word “Chief Executive” shall be substituted;
   (e) in rule 5, for the word “Chairman”, the word “Chief Executive” shall be substituted;
   (f) in rule 6, for the word “Chairman”, the word “Chief Executive” shall be substituted;
   (g) in rule 7, for the word “Chairman”, the word “Chief Executive” shall be substituted;
   (h) in rule 8, for the word “Chairman”, the word “Chief Executive” shall be substituted.

Note: The principal rules were notified vide G.S.R. 124 (E) dated 5th March, 1998 and subsequently amended vide notification number G.S.R. No. 591(E) dated the 14th August,.2001, G.S.R. 629 (E) dated the 22nd September,.2004, G.S.R. 819 (E) dated the26th November,.2008, G.S.R. 29(E) dated the 13th January, 2017 and G.S.R.1008(E) dated the 8th October, 2018.

Notification on Page no. 9

Read More on IRDAI