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of <h1>Section 2(29) drafting change clarifies disjunctive test, lowers 50% to 40% threshold, reduces litigation risk</h1> Section 2(29) comparison shows the introduced Bill's wording risked treating clause (f)(i) and (f)(ii) as conjunctive, potentially narrowing which companies qualify as 'company in which the public are substantially interested,' while the enacted Act replaces this with an explicit disjunctive phrase ('either ... is fulfilled'), removing that interpretive doubt. Aside from minor punctuation and phrasing edits, the substantive categories and the reduced 50%?40% test for certain domestic companies remain unchanged. The drafting change reduces litigation risk; taxpayers should nonetheless retain shareholding, listing, valuation and timing records to support classification and mitigate disputes.
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