Disclosure of interest: new rules tighten director disclosures and regulate related party transactions and meeting procedures. The amendment to section 48 substitutes 'directors' for 'members' and replaces clause (aa) to require director disclosure of interests, Board consent conditions for related party transactions, specification of securities and instruments that may be issued, and rules for reservation and allotment in favour of life insurance policy holders in a public issue. New clauses (ha)-(hk) prescribe the manner and conduct of general meetings, quorum rules and adjournment procedures, attendance and voting methods, notice service, form and circulation of specified financial statements, matters under section 24C, auditor selection and appointment conditions, resignation disclosures by auditors, branch audit duties and related procedural details under section 28C.