WHEREAS it is expedient to adapt the Insurance Act, 1938 (Act IV of 1938), in its application to Bangladesh; NOW, THEREFORE, in pursuance of the Proclamation of Independence of Bangladesh, read with the Provisional Constitution of Bangladesh Order, 1972, and in exercise of all powers enabling him in that behalf, the President is pleased to make the following Order:-
(1) This Order may be called the Bangladesh (Adaptation of Insurance Act) Order, 1972.
(2) It extends to the whole of Bangladesh.
(3) It shall come into force at once and shall be deemed to have taken effect on the 16th day of December, 1971.
The Insurance Act, 1938 (Act IV of 1938), hereinafter referred to as the said Act, shall, until repealed, altered or amended by the Legislature of Bangladesh or by any other competent authority, be subject to the adaptation specified in the following Articles.
In the said Act, reference to “Central Government” or “Provincial Government” shall, except where the context otherwise requires, be construed as reference to “Government of Bangladesh”.
In the said Act, reference to “Pakistan” or “Province” shall, except where the reference occurs in any citation or description of any law and except where the context otherwise requires, be construed as reference to “Bangladesh”.
In the said Act, reference to “Central Legislature” or “Provincial Legislature” shall, except where the context otherwise requires, be construed as reference to “Legislature of Bangladesh”.
In the said Act, reference to “State Bank of Pakistan” shall, except where the context otherwise requires, be construed as reference to “Bangladesh Bank”.
In the said Act, reference to “Federation” shall, except where the context otherwise requires, be construed as reference to, “People's Republic of Bangladesh”.