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of <h1>Companies Act 1956: Amendments to Schedule XIII Ease Managerial Remuneration Approval for Subsidiaries of Listed Firms</h1> The notification amends Schedule XIII of the Companies Act, 1956, as authorized by section 641. Key changes include revising a reference from 'fourth proviso' to 'third proviso' in GSR 396(E) and altering provisions regarding Central Government approval for managerial remuneration. Approval is not needed for subsidiaries of listed companies if certain conditions are met, such as consent from the Remuneration Committee and Board of Directors, and passing a special resolution. Additional amendments specify conditions under which no approval is required, such as no interest in the company's capital and possessing specialized knowledge. These amendments take effect upon publication in the Official Gazette.
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