law: Life Insurance Corporation Act, 1956 
  43. Application of
  
  the Insurance Act.- 
  1.     
  
    The
  
  following section of the Insurance Act shall, so far as may be, apply to the
  
  Corporation as they apply to any other insurer, namely:— Sections 2, 2B, 3, 18,
  
  26, 33, 38, 39, 31, 45, 46, 47A, 50, 51, 52, 110A, 110B, 110C, 119, 121, 122
  
  and 123.
  2.     
  
    The
  
  Central Government shall as soon as may be after the commencement of this Act,
  
  by notification in the Official Gazette, direct that the following sections of
  
  the Insurance Act shall apply to the Corporation subject to such conditions and
  
  modifications as may be specified in the notification, namely:—
  3.     
  
    Sections
  
  2D, 10, 11, 13, 14, 15, 20, 21, 22, 23, 25, 27A, 28A, 35, 36, 37, 40, 40A, 43,
  
  44, 102 to 106, 107 to 110, 111, 113, 114 and 116A.
  4.     
  
    The
  
  Central Government may, be notification in the Official Gazette, direct that
  
  all or any of the Insurance Act other than those specified in sub-section (1)
  
  or sub-section (2) shall apply to the Corporation subject to such conditions
  
  and modifications as may be specified in the notification.
  5.     
  
    Every
  
  notification issued under sub-section (2) or sub-section (3) shall be laid for
  
  not less than thirty days before both Houses of Parliament as soon as possible
  
  after it is issued, and shall be subject to such modifications as Parliament
  
  may make during the session in which it is so laid or the session immediately
  
  following.
  6.     
  
    Save
  
  as provided in this section, nothing contained in the Insurance Act shall apply
  
  to the Corporation.