law: Life Insurance Corporation Act, 1956 
  2. Definitions.- 
  In this Act, unless
  
  the context otherwise requires,—
  1.     
  
    "appointed
  
  day" means the date on which the Corporation is established under section
  
  3;
  2.     
  
    "composite
  
  insurer" means an insurer carrying on in addition to controlled business
  
  any other kind of insurance business;
  3.     
  
    "controlled
  
  business" means—
               
  
   i.        
  
    in
  
  the case of any insurer specified in sub-clause (a)
              
  
   ii.        
  
    or
  
  sub-clause (b) of clause (9) of section 2 of the Insurance Act and carrying on
  
  life insurance business—
  a.      all his business, if
  
  he carries on no other class of insurance business;
  b.     all the business
  
  appertaining to his life insurance business, if he carries on any other class
  
  of insurance business also;
  c.      all his business if
  
  his certificate of registration under the Insurance Act in respect of general
  
  insurance business stands wholly cancelled for a period of more than six months
  
  on the 19th day of January, 1956;
              
  
   i.        
  
  
              
  
   ii.        
  
    in
  
  the case of any other insurer specified in clause (9) of section 2 of the
  
  Insurance Act and carrying on life insurance business—
  a.      all his business in
  
  India, if he carries on no other class of insurance business in India;
  b.     all the business
  
  appertaining to his life insurance business in India, if he carries on any
  
  other class of insurance business also in India;.
  c.      all his business in
  
  India if he certificate of registration under the Insurance Act in respect of
  
  general insurance business in India stands wholly cancelled for a period of
  
  more than six months on the 19th day of January, 1956.
  Explanation.—  An insurer is said
  
  to carry on no class of insurance business other than life insurance business,
  
  if in addition to life insurance business, he carries on only capital
  
  redemption business or annuity certain business or both; and the expression
  
  "business appertaining to his life insurance business" in sub-clause
  
  (i) and (ii) shall be construed accordingly;
             
  
   i.        
  
  
             
  
   ii.        
  
  
             
  
   iii.        
  
    in
  
  the case of a provident society, as defined in section 65 of the Insurance Act,
  
  all its business;
             
  
   iv.        
  
    in
  
  the case of the Central Government or a State Government, all life insurance
  
  business carried on by it, subject to the exceptions specified in section 44;
  1.     
  
  
  2.     
  
  
  3.     
  
  
  4.     
  
    "Corporation"
  
  means the Life Insurance Corporation of India established under section 3;
  5.     
  
  
  
    "Insurance
  
  Act" means the Insurance Act, 1938 (4 of 1938);
  6.     
  
    "insurer"
  
  means an insurer as defined in the Insurance Act who carries on life insurance
  
  business in India and includes the Government and a provident society as
  
  defined in section 65 of the Insurance Act;
  7.     
  
    "member"
  
  means a member of the Corporation;
  8.     
  
    "prescribed"
  
  means prescribed by rules made under this Act;
  9.     
  
    "Tribunal"
  
  means a Tribunal constituted under section 17 and having jurisdiction in
  
  respect of any matter under the rules made under this Act;
  10.  
  
    all
  
  other words and expressions used herein but not defined and defined in the
  
  Insurance Act shall have the meanings respectively assigned to them in that
  
  Act.