Section 76: Incorporation of Insurance Company for Micro Business Only

1) Notwithstanding anything mentioned elsewhere in this act, an insurance company may be incorporated only for undertaking a micro-life insurance business or a micro non-life insurance business.

2) The capital of micro-insurance companies to be established as per sub-section (1), shall be as prescribed.

3) Provisions relating to incorporation and licensing of micro-insurance companies to be established as per sub-section (1), shall be as per this Act.