https://www.taxtmi.com/acts?id=39398 Amendments vest general superintendence of LIC in a Board of Directors, define board composition and director categories, create Board committees and an Executive Committee, and substitute references to the Corporation with the Board. They align corporate terms with the Companies Act, add director disqualifications, disclosure and related party transaction rules, and provide shareholder meeting rights, share transferability, voting and nomination rights. Capital provisions permit issuing equity to the Central Government against paid-up capital, bonus issues and other securities issuance, while strengthening accounting, audit and financial reporting obligations and surplus/dividend allocation in conformity with listing requirements. en-us Mon, 01 Feb 2021 19:42:14 +0530 Mon, 01 Feb 2021 19:42:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=39398 Amendments vest general superintendence of LIC in a Board of Directors, define board composition and director categories, create Board committees and an Executive Committee, and substitute references to the Corporation with the Board. They align corporate terms with the Companies Act, add director disqualifications, disclosure and related party transaction rules, and provide shareholder meeting rights, share transferability, voting and nomination rights. Capital provisions permit issuing equity to the Central Government against paid-up capital, bonus issues and other securities issuance, while strengthening accounting, audit and financial reporting obligations and surplus/dividend allocation in conformity with listing requirements. Act-Rules Bills Mon, 01 Feb 2021 19:42:14 +0530 https://www.taxtmi.com/acts?id=39398