1[45. Special provisions regarding transfer of controlled business of certain composite
insurer.--Notwithstanding anything contained in clause (c) of section 44, the Central Government may,
by notification in the Official Gazette, direct that on and with effect from such date as may be specified in
the notification the assets and liabilities appertaining to the controlled business of a composite insurer in
respect of the management of whose affairs an Administrator has been appointed under section 52A of the
Insurance Act shall be transferred to the vested in the Corporation, and on the issue of such a notification
the provisions of this Act shall, so far as may be, apply in relation to such insurer and to the transfer and
vesting of the assets and liabilities of his controlled business in the Corporation as they apply in relation
to all other insurers and to the transfer and vesting of assets and liabilities of their controlled business in
the Corporation, subject to the modification that references in this Act to the appointed day shall be
construed as references to the day specified in the notification.]
1. Ins. by Act 17 of 1957, s. 4 (w.e.f. 6-6-1957).