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Statement — The Insurance Act, 1938, and its amendment in 1950 have provided the regulatory framework for insurance business in India. Conclusions — I. The Insurance Act can be amended. II. The Insurance Act can be amended only after twelve years.

Difficulty: Easy

if only conclusion I follows
if only conclusion II follows
if either I or II follows
if neither I nor II follows
if both I and II follow

Correct Answer: if only conclusion I follows

Explanation:

Introduction / Context:The statement explicitly mentions an amendment in 1950 to a 1938 Act. We test which conclusions necessarily follow.

Given Data / Assumptions:

Historical fact: amendment occurred.
No rule is stated about intervals between amendments.

Concept / Approach:From “amended in 1950,” it necessarily follows that the Act can be amended (I). Conclusion II asserts a fixed twelve-year wait between amendments, which is not stated or implied.

Step-by-Step Solution:

I: Directly supported by the occurrence of an amendment.II: Adds a specific interval rule absent from the premise → does not follow.

Statement — The Insurance Act, 1938, and its amendment in 1950 have provided the regulatory framework for insurance business in India. Conclusions — I. The Insurance Act can be amended. II. The Insurance Act can be amended only after twelve years.

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