Amendment in Schedule XIII of the Companies Act 1956.

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.... by the sub-section (1) of section 641 of the Companies Act, 1956, the Central Government hereby makes the following further amendments in Schedule XIII of the Companies Act, 1956:- 1. In GSR 396(E), dated 23rd May, 2011 in Para 1(i) the words "fourth proviso" may be read as "third proviso". 2. In Schedule XIII, in part II, in section II. in sub-para (C), the fourth proviso shall be subst....

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.... Provided that a listed company or a subsidiary of a Listed company shall not require Central Government approval for the payment of remuneration to its managerial personnel, if the remuneration is fixed by Board of Industrial and Financial Reconstruction." 3. In Schedule XIII, in part II, in section II - in sub-para (C), after fourth proviso, the following proviso shall be inserted, namely....

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....tled to hold shares in any company formed under any statute." 5. It shall come into force from the date of its publication in the Official Gazette [F.NO. 14/3/2011-CL.VII] (J. N. Tikku) Joint Director Note: The Principal Schedule was interested by the Companies (Amendment) Act, 1988 vide No. G.S.R. 559(E), dated 10.06.1998 and subsequently amended vide- (i)   &nbsp....