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<h1>Finance Act 2021 Amends Life Insurance Corporation Act 1956: New Sections 50 and 51 Introduced for Compliance and Implementation.</h1> Sections 50 and 51 have been added to the Life Insurance Corporation Act, 1956, through the Finance Act, 2021. Section 50 stipulates that any prescribed forms, manners, periods, or details required under the Act for declarations or registers must align with those under the Companies Act, subject to modifications specified by the Central Government. Section 51 empowers the Central Government to address difficulties in implementing the amended Act by issuing orders within three years from the commencement of the relevant provisions, ensuring these orders are consistent with the Act and are presented to Parliament.