https://www.taxtmi.com/acts?id=39403 The Bill amends the LIC Act to vest superintendence in a Board of Directors with prescribed composition, committees and delegation, to protect acts despite defects in constitution or appointments, and to limit liability of non whole time directors to matters within their knowledge or due diligence. It enables issuance and transferability of equity, voting rights, and recognition of shares as securities including treatment of Central Government shareholdings for IPO purposes, and inserts robust financial reporting, audit and disclosure obligations aligned with listing requirements. en-us Mon, 01 Feb 2021 19:47:32 +0530 Mon, 01 Feb 2021 19:47:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=39403 The Bill amends the LIC Act to vest superintendence in a Board of Directors with prescribed composition, committees and delegation, to protect acts despite defects in constitution or appointments, and to limit liability of non whole time directors to matters within their knowledge or due diligence. It enables issuance and transferability of equity, voting rights, and recognition of shares as securities including treatment of Central Government shareholdings for IPO purposes, and inserts robust financial reporting, audit and disclosure obligations aligned with listing requirements. Act-Rules Bills Mon, 01 Feb 2021 19:47:32 +0530 https://www.taxtmi.com/acts?id=39403