Corporate governance reform enables LIC to adopt board-based governance, shareholder meetings and listing-aligned compliance and disclosure.

Amendments vest the superintendence and direction of LIC in a Board of Directors with defined composition and governance mechanisms, introduce director qualifications, disclosure and related party controls, and reframe membership into shareholder rights including issuance, transferability and recognition of equity, voting and register requirements to align LIC's corporate, financial reporting, audit and meeting procedures with securities listing obligations and enable an initial public offering.

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