The functioning of GIC has to be within the regulations of the following major Acts:

• The Companies Act, 1956
  
  
• Insurance Act, 1938
  
  
• General Insurance Business (Nationalisation) Act, 1972
  
  
• General Insurance Business (Nationalisation) Amendment Act. 2002.
  
  
• Insurance Regulatory and Development Authority Act, 1999
  
  
• Certificate of Registration with IRDA
  
  
• Certificate of Renewal of Registration from IRDA for 2010-11