The Ministry of Finance vide its notification dated 3rd March 2022 has notified the form, manner, period and details prescribed in respect of declaration to be made and particulars to be included in the register to be maintained under the Companies Act by Life Insurance Corporation.
A person whose name is entered in the register of members of the Corporation as the holder of shares in the Corporation but who does not hold beneficial interest in such shares shall, within a period of thirty days from the date on which the name of such person is entered in that register, make a declaration in Form I.
Where any change occurs in the beneficial interest in shares of the Corporation, the person shall, within a period of thirty days from the date of such change, make a declaration in Form I.
Further every person who holds or acquires beneficial interest in shares of the Corporation shall, within a period of thirty days from the date on which he acquires such beneficial interest in shares of the Corporation, make a declaration in Form III and if any change occurs in the beneficial interest in shares of the Corporation, the person shall, within a period of thirty days from the date of such change, make a declaration in Form III.
