# The Finance Act, 2019 (No. 2), Section 144: Amendment of Act 4 of 1938

- Act: The Finance Act, 2019 (No. 2)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2019-no-2/section/144/

## 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.".

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