Section 58, Life Insurance Corporation (Modification of Settlement) Act, 1976 [S1Q-B26]

As at 7 September 2026. In force from 21 October 1976.

In Life Insurance Corporation (Modification of Settlement) Act, 1976 [A10-RE4]. This text from 7 April 1979, by Act 90 of 1979 [A10-SJX]. Other texts (1): from 21 October 1976 to 6 April 1979.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 58, Life Insurance Corporation (Modification of Settlement) Act, 1976 [S1Q-B26]. Machine: S1Q-B26.

58. Penalty for contravention.—(1) Whoever contravenes the provisions of section 4 or section 5 shall be punishable with fine which may extend to fifty thousand rupees, and in the case of a continuing contravention, with an additional fine which may extend to fifty thousand rupees for every day during which the contravention continues after conviction for the first such contravention. (2) Whoever contravenes any other provision of this Act or the rules made thereunder, for which no penalty is elsewhere provided, shall be punishable with fine which may extend to five hundred rupees.

Defined terms in this text (0)

none

Made under this section, or naming it (0)

none

Cited by (1)

Section 2, Life Insurance Corporation (Modification of Settlement) Act (Amendment) Act, 1979 [S1R-3XF], 7 April 1979, Band A. "section 58 of the Life Insurance Corporation (Modification of Settlement) Act, 1976 (72 of 1976)".

Not held (0)

none

Duties published under this section (0)

none