[BUG] managed-settings.json "companyAnnoucements" are not displayed but works with settings.json

Preflight Checklist

• [x] I have searched existing issues and this hasn't been reported yet
• [x] This is a single bug report (please file separate reports for different bugs)
• [x] I am using the latest version of Claude Code

What's Wrong?

When I set companyAnnoucments in my settings.json it displays the message but not from managed-settings.json

What Should Happen?

Display the annoucement...

Error Messages/Logs

Steps to Reproduce

Write a file to: ~/.claude/settings.json

{
      "companyAnnouncements": ["Hello this the company!"]
}

claude

displays the message

mv ~/.claude/settings.json /etc/claude-code/managed-settings.json

No message anymore
I can also confirm that it properly loads the settings as my permissions inside are working though I could find a bug related also to managed settings here may or may not be related: #53662

Claude Model

Other

Is this a regression?

I don't know

Last Working Version

_No response_

Claude Code Version

2.1.119

Platform

Anthropic API

Operating System

Ubuntu/Debian Linux

Terminal/Shell

Other

Additional Information

_No response_