https://www.taxtmi.com/acts?id=39684 The amendment inserts comprehensive definitions into section 2 of the Life Insurance Corporation Act, 1956 to clarify governance and corporate terms: Audit Committee, Board of Directors, Chairperson, Chief Executive (initial-period Chairperson and later CEO and MD), Chief Executive Officer and Managing Director, Managing Director, member and director status, Nomination and Remuneration Committee, notification, and special resolution. It defines "financial statement" components and "fully diluted basis" for government shareholding, designates "independent director" and "initial period", and directs reliance on the Insurance Act and Companies Act for undefined terms. en-us Tue, 30 Mar 2021 15:49:07 +0530 Tue, 30 Mar 2021 15:49:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=39684 The amendment inserts comprehensive definitions into section 2 of the Life Insurance Corporation Act, 1956 to clarify governance and corporate terms: Audit Committee, Board of Directors, Chairperson, Chief Executive (initial-period Chairperson and later CEO and MD), Chief Executive Officer and Managing Director, Managing Director, member and director status, Nomination and Remuneration Committee, notification, and special resolution. It defines "financial statement" components and "fully diluted basis" for government shareholding, designates "independent director" and "initial period", and directs reliance on the Insurance Act and Companies Act for undefined terms. Act-Rules F. Acts / Amendment Acts Tue, 30 Mar 2021 15:49:07 +0530 https://www.taxtmi.com/acts?id=39684