Amendment of section 186

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..... e any individual who is in the employment of the company.'; (ii) for sub-section (3), the following sub-section shall be substituted, namely:- '(3) Where the aggregate of the loans and investment so far made, the amount for which guarantee or security so far provided to or in all other bodies corporate along with the investment, loan, guarantee or security proposed to be made or give .....

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..... (iii) for sub-section (11), the following sub-section shall be substituted, namely:- (11) Nothing contained in this section, except sub-section (1), shall apply- (a) to any loan made, any guarantee given or any security provided or any investment made by a banking company, or an insurance company, or a housing finance company in the ordinary course of its business, or a company established .....

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..... f acquisition of shares, debentures or other securities, if its assets in the form of investment in shares, debentures or other securities constitute not less than fifty per cent. of its total assets, or if its income derived from investment business constitutes not less than fifty per cent. as a proportion of its gross income. . - - statute, statutory provisions legislation, law, enactment, A .....

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