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Core Purpose

Notification under section 17A of the General Insurance Business (Nationalisation) Act, 1972 amending the General Insurance (Employees') Pension Scheme, 1995.

Detailed Summary

The Ministry of Finance, Department of Financial Services, by notification S.O. 3346(E) dated 26th July 2023, framed the "General Insurance (Employees') Pension (Amendment) Scheme, 2023" under section 17A of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972), amending the General Insurance (Employees') Pension Scheme, 1995; in paragraph 49, sub-paragraphs (1) and (6), the words "two years" are replaced with "one year"; the amendment takes effect from the date of publication in the Official Gazette; the Principal Scheme was published vide notification S.O. 585(E) dated 28th June 1995 and had been subsequently amended by a series of notifications, including S.O. 475(E), S.O. 342(E), S.O. 461(E), S.O. 1221(E), S.O. 590(E), S.O. 775(E), S.O. 1086(E), S.O. 778(E), S.O. 636(E), S.O. 1794(E), S.O. 2473(E) and S.O. 236(E); issued under file number M-16017/19/2023-Ins-I and signed by Mukesh Kumar Bansal, Joint Secretary.

Full Text

4821 GI/202 3 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART II —Section 3 —Sub-section ( ii) PUBLISHED BY AUTHORITY No. 3201] NEW DELHI , WEDNES DAY, JULY 26, 2023/ SHRAVANA 4, 1945 CG-DL-E-26072023-247620 MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 26th July, 2023 S.O. 3346(E) .—In exercise of the powers conferred by section 17A of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972), the Central Government hereby frames the following Scheme further to amend the General Insurance (Employees’) Pension Scheme, 1995, namely : - 1. Short title and commencement. – (1) This Scheme may be called the General Insurance (Employees’) Pension (Amendment) Scheme, 2023. (2) It shall come into force on the date of its publication in the Official Gazette. 2. In the General Insurance (Employees’) Pension Scheme, 1995, in paragraph 49, in sub -paragraphs (1) and (6), for the words ‘two years’, the words ‘one year’ shall respectively be substituted. [F. No. M -16017/19/2023 -Ins-I] MUKESH KUMAR B ANSAL , Jt. Secy. Note : The Principal Scheme was published vide notification No.S.O.585 (E) dated the 28th June, 1995 and subsequently amended by notification No. S.O.475 (E) dated the 3rd July, 1996, S.O.342 (E) dated t he 22nd April, 1997, S.O.461 (E) dated the 18th June, 1999, S.O.1221 (E) dated the 6th December, 1999, S.O. 590(E) dated the 22nd June, 2000, S.O.775 (E) dated 14th August, 2001, S.O.1086 (E) dated the 2nd November, 2001, S.O. 778 (E) dated the 5th July, 2 004, S.O.636 (E) dated the 4th May, 2005, S.O.1794(E) dated the 19th October, 2006, S.O. 2473(E) dated 08th October, 2010 and S.O. 236(E) dated 23rd January, 2016. Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054.

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