Section 31Section 31

s. 31

31 Except to the extent otherwise expressly provided in this Order, on and from the commencement of this Order the general subsidiary Corporations shall have the exclusive privilege of carrying on general insurance business and the life subsidiary Corporation shall have the exclusive privilege of carrying on life insurance business in Bangladesh; and on and from such commencement any certificate of registration under the Insurance Act, 1938 (Act IV of 1938), held by any insurer immediately before such commencement shall cease to have effect in so far as it authorises him to carry on any insurance business.