The LIFE INSURANCE CORPORATION ACT, 1956

ESTABLISHMENT OF LIFE INSURANCE CORORATION OF INDIA

Section 5: Capital of Corporation.

(1) The paid-up equity capital of the Corporation shall be one hundred crore of rupees provided by the Central Government after due appropriation made by Parliament by law for the purpose.

(2) The Corporation may issue and sell bonds and debentures or such other prescribed instruments carrying interest for the purpose of raising its working capital to such amount as may be prescribed.]