40. Amendment of section 89.- In section 89 of the principal Act,— (a) in sub-section (2),— (i) for clause (a), the following clause shall be substituted, namely:— "(a) any resolution relating to the appointment or reappointment of a director or to any variation in the terms of an agreement between the company and a managing or whole-time director thereof;"; (ii) clause (c) shall be omitted; (b) in sub-section (3), for the words "one thousand rupees", the words "ten thousand rupees" shall be substituted. |