{"act":{"id":"finance-act-2019-no-2","short_title":"The Finance Act, 2019 (No. 2)","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2019-2020.","act_number":null,"act_year":2019,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":217,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/"},"unit":"section","section":{"number":"144","heading":"Amendment of Act 4 of 1938","text":"PART II Amendment to the Insurance Act, 1938 Amendment of Act 4 of 1938 144. In the Insurance Act, 1938, in section 6, after sub-section (2), the following sub-section shall be inserted, namely:-- \"(3) No insurer, being a foreign company engaged in re-insurance business through a branch established in an International Financial Services Centre referred to in sub-section (1) of section 18 of the Special Economic Zones Act, 2005 (28 of 2005), shall be registered unless it has net owned funds of not less than rupees one thousand crore.\".","html":"<p>PART II</p><p><b>Amendment to the Insurance Act, 1938</b></p><p><b><b>Amendment of Act 4 of 1938</b></b></p><p><b><b>144</b>. </b>In the Insurance Act, 1938, in section 6, after sub-section (2), the following sub-section shall be inserted, namely:--</p><p>\"(3) No insurer, being a foreign company engaged in re-insurance business through a branch established in an International Financial Services Centre referred to in sub-section (1) of section 18 of the Special Economic Zones Act, 2005 (28 of 2005), shall be registered unless it has net owned funds of not less than rupees one thousand crore.\".</p>","words":89,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/section/144/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}