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<h1>Applicability modification for government companies exempts them from specified statutory restriction subject to administrative approval.</h1> The Central Government directs that section 295 of the Companies Act, 1956 shall not apply to a Government company, subject to the company obtaining approval from the Ministry or Department of the Central Government administratively in charge of the company, or, as applicable, the State Government; the direction is issued under section 620(1) and supersedes an earlier notification except for prior acts.