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116. Power to exempt from certain requirements- 2[(1)] The Central Government may, by notification in the Official Gazette, exempt any insurer constituted, incorporated or domiciled in 3[any country or State outside 4[India]] 5[from any of the provisions of this Act which may be specified in the notification] either absolutely or subject to such conditions or modification as may be specified in the notification. 6* * * * * 7[(2) This section shall apply in respect of provident societies as defined in Part III as it applies in respect of insurers.]    |
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