Related party transactions: new threshold-based special resolution and enhanced disclosure requirements govern approvals and reporting. Rule changes set quantitative thresholds triggering special-resolution approval for related party transactions under section 188: specified limits based on turnover or net worth and monetary caps apply to sale/purchase/supply, property transfers, leasing and services; limits run per transaction and in aggregate during the financial year. Appointment to office or place of profit and underwriting remuneration above prescribed limits also require special resolution. Turnover and net worth are to be computed from the audited financials of the preceding year. Wholly owned subsidiary transactions may be approved by the holding company's special resolution. Required explanatory statement particulars are listed.
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Related party transactions: new threshold-based special resolution and enhanced disclosure requirements govern approvals and reporting.
Rule changes set quantitative thresholds triggering special-resolution approval for related party transactions under section 188: specified limits based on turnover or net worth and monetary caps apply to sale/purchase/supply, property transfers, leasing and services; limits run per transaction and in aggregate during the financial year. Appointment to office or place of profit and underwriting remuneration above prescribed limits also require special resolution. Turnover and net worth are to be computed from the audited financials of the preceding year. Wholly owned subsidiary transactions may be approved by the holding company's special resolution. Required explanatory statement particulars are listed.
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