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<h1>Authorised managing or whole-time director liable for securities transaction tax under section 100(2)-(4) and Companies Act 2(54),2(94)</h1> In relation to securities transaction tax liability of an insurance company, the person responsible for collection and payment under section 100(2), (3) and (4) of the Securities Transaction Tax provisions shall be the managing director or a whole-time director of the company, as defined under section 2(54) and 2(94) of the Companies Act, 2013. Such director must be specifically authorised by the company's Board of Directors for this purpose, making that authorised director the legally accountable officer for compliance with securities transaction tax obligations.