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 wholetime 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.
