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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Proposed Amendments to Life Insurance Corporation Act, 1956 Focus on Governance, Board Restructuring, and Shareholder Rights</h1> The proposed amendments to the Life Insurance Corporation Act, 1956, aim to align LIC's governance and financial practices with listing requirements, facilitating its potential listing on stock exchanges. Key changes include defining governance terms, restructuring LIC's Board of Directors, and establishing new committees for enhanced corporate governance. The amendments also address the allocation of surplus funds, capital structure, and shareholder rights. Additionally, new provisions for auditing, financial reporting, and dividend distribution are introduced, alongside mechanisms for share transfer and shareholder meetings. These changes are designed to improve transparency, accountability, and compliance with regulatory standards.
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