Corporate governance reform enables listing readiness and establishment of share issuance, transfer and disclosure framework for LIC. Amendments vest general superintendence in a Board of Directors with specified composition, disqualifications, disclosure and committee structures; establish an equity capital regime enabling issue, transfer and recognition of shares including issues to the Central Government and reservation to policyholders; and revise fund, surplus allocation and dividend rules while strengthening financial reporting, audit oversight and penalties, all to align LIC's governance, shareholder rights and financial integrity with securities listing requirements, subject to commencement notifications.
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Corporate governance reform enables listing readiness and establishment of share issuance, transfer and disclosure framework for LIC.
Amendments vest general superintendence in a Board of Directors with specified composition, disqualifications, disclosure and committee structures; establish an equity capital regime enabling issue, transfer and recognition of shares including issues to the Central Government and reservation to policyholders; and revise fund, surplus allocation and dividend rules while strengthening financial reporting, audit oversight and penalties, all to align LIC's governance, shareholder rights and financial integrity with securities listing requirements, subject to commencement notifications.
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