Section 40C(2)(b)(i) in The Insurance Act, 1938

Central Government Act

(i) in the case of an insurer having his principal place of business in India, a share of head office expenses in

1. Ins. by Act 47 of 1950, s. 31 (w. e. f. 1- 9- 1950 ). 2. Ins. by Act 62 of 1968, s. 19 (w. e. f. 1- 6- 1969 ).

respect of general insurance business transacted by him outside India not exceeding such percentage of his gross direct premium written outside India as may be prescribed,