Section 2. Definitions

2. Definitions.— In this Act, unless the context otherwise requires,— (1) "appointed day" means the date on which the Corporation is established under section 3; 2[(1a) "Audit Committee" means the Committee constituted under section 19C; (1b) "Board of Directors" or "Board" means the collective body of the directors appointed or nominated or deemed as such under section 4; (1c) "Chairperson" means the Chairperson referred to in clause (a) of sub-section (2) of section 4; (1d) "Chief Executive" means,— (i) during the initial period, the Chairperson referred to in sub-clause (i) of clause (a) of sub-section (2) of section 4; (ii) after the initial period, the Chief Executive Officer and Managing Director; (1e) "Chief Executive Officer and Managing Director" means the Chief Executive Officer and Managing Director referred to in clause (b) of sub-section (2) of section 4; (1f) "Companies Act" means the Companies Act, 2013 (18 of 2013); (1g) "court" means "Court" as defined in clause (29) of section 2 of the Companies Act, 2013 (18 of 2013;] (2) "composite insurer" means an insurer carrying on in addition to controlled business any other kind of insurance business; (3) "controlled business" means— (i) in the case of any insurer specified in sub-clause (a) (ii) or sub-clause (b) of clause (9) of section 2 of the Insurance Act and carrying on life insurance business— (a) all his business, if he carries on no other class of insurance business; (b) all the business appertaining to his life insurance business, if he carries on any other class of insurance business also;