After section 2C, insert— — THE SPECIAL ECONOMIC ZONES ACT, 2005

2. After section 2C, insert— " 2CA . Power of Central Government to apply provisions of this Act to Special Economic Zones . — The Central Government may, by notification, direct that any of the provisions of this Act,— (a) shall not apply to insurer, being an Indian Insurance Company, insurance co-operative society or a body corporate referred to in clause (c) of sub-section (1) of section 2C, carrying on the business of insurance, in any Special Economic Zone as defined in clause (za) of section 2 of the Special Economic Zones Act, 2005; or (b) shall apply to any insurer, being an Indian Insurance Company, insurance co-operative society or a body corporate referred to in clause (c) of sub-section (1) of section 2C, carrying on the business of insurance, in any Special Economic Zone as defined in clause (za) of section 2 of the Special Economic Zones Act, 2005 only with such exceptions, modifications and adaptations as may be specified in the notification. " . PART II AMENDMENTS TO THE BANKING REGULATION ACT, 1949 (10 OF 1949)

Section 2