42. Section 10 of the principal enactment is hereby repealed and the following section substituted therefor:
| 10.
| | (1) Notwithstanding anything to the contrary in any other written law no person other than the Corporation or a subsidiary corporation or an independent corporation shall be authorized to transact new business of any class of insurance whatsoever and to issue policies of insurance, or renew any policy of general insurance in Sri Lanka. | | |
| | (2) Every policy of insurance issued or every policy of general insurance renewed on or after the first day of January 1964, by any insurer other than the Corporation or a subsidiary corporation or an independent corporation, shall be deemed to be invalid and accordingly shall be of no force or effect in law : | | |
| | (3) In this section " enterprise" has the same meaning as in the Greater Colombo Economic Commission Law, No. 4 of 1978.". | | |
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Sri Lanka Consolidated Acts