Explanation:- For the purpose of this section, “creditor” includes the State, or an Official Assignee or Official Receiver appointed under the law relating to insolvency for the time being in force.

Group Life Insurance for members and other benefits.-The Trustee Committee may, for the welfare of the members of the Fund-

1. (a) obtain from the Life Insurance Corporation of India, policies of Group Insurance for the members of the Fund;
2. (b) provide in such manner as may be prescribed for medical and educational facilities for the members of the Fund and their dependents; and
3. (c) provide for such other benefits as may be prescribed.