law: Life Insurance Corporation Act, 1956 
  44. Act not to apply
  
  in certain cases.- 
  Nothing contained in
  
  this Act shall apply in relation to—
  a.     
  
    any
  
  insurer whose business is being voluntarily would up or is being wound up under
  
  the orders of the Court;
  b.    
  
    any
  
  insurer to whom the Insurance Act does not apply by reason of the provisions
  
  contained in section 2E thereof;
  c.     
  
    any
  
  composite insurer in respect of the management of whose affairs an
  
  Administrator has been appointed under section 52A of the Insurance Act;
  d.    
  
    the
  
  scheme run by the Central Government known as the Post Office Life Insurance
  
  Fund;
  e.     
  
    any
  
  approved superannuation fund as defined in clause (a) of section 58N of the
  
  Indian Income-tax Act, 1922 (11 of 1922), which is in existence on the
  
  appointed day;
  f.     
  
    any
  
  scheme in existence on the appointed day or any scheme framed after the
  
  appointed day with the approval of the Central Government whereby, in
  
  consideration of certain compulsory deductions made by Government from the
  
  salaries of its employees as part of the conditions of service, the payment of
  
  money is assured by Government on the death of the employee concerned or on the
  
  happening of any contingency dependent on his life.