Deemed public company status: existing director tenure survives; future appointments and remuneration need Central Government approval. Becoming a deemed public company under section 43A does not invalidate existing managing or whole time director appointments and Central Government approval is required only at the next appointment; indefinite appointments are treated as having a fixed tenure commencing on the date of deemed public status. If profits are inadequate, minimum remuneration requires prior Central Government approval applied for within a reasonable time. Excess loans, advances or guarantees must be recovered or withdrawn within a remedial period from the date of deemed public company status.