New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    Under the General Insurance Business (Nationalisation)

    Act the provision relating to the payment of the dues to the Life Insurance Corporation, it shall be given to it in _____________, the first of which shall fall due on the appointed day
    A Annual instalments Correct Answer Incorrect Answer
    B Two equal annual instalments Correct Answer Incorrect Answer
    C Five equal annual instalments Correct Answer Incorrect Answer
    D Three equal annual instalments Correct Answer Incorrect Answer
    E Such annual installments as the Central Government may prescribe Correct Answer Incorrect Answer

    Solution

    Motor Vehicles Act,  Section 13. Mode of payment: (c) to the Life Insurance Corporation, it shall be given to it in three equal annual instalments, the first of which shall fall due on the appointed day.

    Practice Next