Section 24: Acquiring companies to have the exclusive privilege of carrying on general insurance business. - (1) Except to the extent expressly provided in this Act, on and from the appointed day, the Corporation and the acquiring companies shall have the exclusive privilege of carrying on general insurance business in India

Q: What does Section 24 of The Insurance (Amendment) Act, 2021 (TIAA) deal with?

Section 24 TIAA pertains to "Acquiring companies to have the exclusive privilege of carrying on general insurance business. - (1) Except to the extent expressly provided in this Act, on and from the appointed day, the Corporation and the acquiring companies shall have the exclusive privilege of carrying on general insurance business in India". It is part of the The Insurance (Amendment) Act, 2021, a legislation enacted by the Parliament of India. Section 24 of The Insurance (Amendment) Act, 2021 (TIAA) governs acquiring companies to have the exclusive privilege of carrying on general insurance business. - (1) Except to the extent expressly provided in this Act, on and from the appointed day, the Corporation and the acquiring companies shall have the exclusive privilege of carrying on general insurance business in India. As verified on 19 May 2026.

Q: Is Section 24 TIAA still in force?

Yes, Section 24 of the The Insurance (Amendment) Act, 2021 is currently in force across the Republic of India.

Q: What is धारा 24 TIAA?

धारा 24 TIAA is the Devanagari Hindi reference for Section 24 of the The Insurance (Amendment) Act, 2021. Section 24 of The Insurance (Amendment) Act, 2021 (TIAA) governs acquiring companies to have the exclusive privilege of carrying on general insurance business. - (1) Except to the extent expressly provided in this Act, on and from the appointed day, the Corporation and the acquiring companies shall have the exclusive privilege of carrying on general insurance business in India. As verified on 19 May 2026.

Q: What is Dhara 24 TIAA?

Dhara 24 TIAA is the Roman Hindi reference for Section 24 of the The Insurance (Amendment) Act, 2021. "Dhara" means "Section" in Hindi. Section 24 of The Insurance (Amendment) Act, 2021 (TIAA) governs acquiring companies to have the exclusive privilege of carrying on general insurance business. - (1) Except to the extent expressly provided in this Act, on and from the appointed day, the Corporation and the acquiring companies shall have the exclusive privilege of carrying on general insurance business in India. As verified on 19 May 2026.

Q: How to cite Section 24 of The Insurance (Amendment) Act, 2021?

Cite as: "Section 24, The Insurance (Amendment) Act, 2021 (TIAA)" in legal briefs. For academic writing, use the BlueBook format: The Insurance (Amendment) Act, 2021, § 24 (India).

Law on Tips Editorial Board

(2)

Subject to the provisions of section 36, any certificate of registration granted under the Insurance Act to any insurer other than an insurer referred to in sub-section (1) shall, on and from the appointed day, cease to have effect:

Provided that nothing in this sub-section shall apply to the carrying on by the Life Insurance Corporation of life insurance business and capital redemption and annuity certain business.