Amendment to Section 117 reduces prescribed penalties, revises filing timing and exempts banks for certain loan-related board resolutions. Section 117 is amended to remove the reference to filing timing under section 403, reduce the prescribed penalties and monetary thresholds in subsections, omit a clause in subsection (3), and add a proviso excluding banking companies from application of the specified clause when passing resolutions to grant loans, give guarantees or provide security in the ordinary course of business under the relevant board resolution provision.