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<h1>Government Companies Get Exemptions u/s 462 of Companies Act, 2013 for Operational Flexibility and Shareholder Protection.</h1> The notification issued by the Ministry of Corporate Affairs on June 5, 2015, outlines exemptions and modifications applicable to Government companies under Section 462 of the Companies Act, 2013. It specifies that certain provisions of the Act will not apply or will apply with modifications to Government companies. These include exemptions related to share capital, transfer of securities, and certain governance provisions. The notification also states that these exceptions are applicable only if the Government company has not defaulted in filing financial statements or annual returns. The notification aims to protect shareholder interests while providing operational flexibility to Government companies.