Amendment to procedural filing fees reduces prescribed penalties and exempts banking companies from certain loan-resolution restrictions. The amendment removes the time-specific filing requirement, lowers the prescribed minimum penalties and fees by substituting reduced monetary thresholds, deletes one enumerated clause, and adds a proviso exempting banking companies from application of the clause when resolutions authorise loans, guarantees, or security for loans made in the ordinary course of banking business.
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Provisions expressly mentioned in the judgment/order text.
Amendment to procedural filing fees reduces prescribed penalties and exempts banking companies from certain loan-resolution restrictions.
The amendment removes the time-specific filing requirement, lowers the prescribed minimum penalties and fees by substituting reduced monetary thresholds, deletes one enumerated clause, and adds a proviso exempting banking companies from application of the clause when resolutions authorise loans, guarantees, or security for loans made in the ordinary course of banking business.
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