Company Law Reform Bill [HL]

moved Amendment No. 95:"Page 39, line 7, at end insert ““and””" The noble Lord said: In moving Amendment No. 95 I shall speak also to Amendment No. 96. The amendments relate to Clause 91, entitled ““Requirements as to share capital””. This is a probing amendment about changes in the relative positions of previous Companies Acts. Section 47(3) of the Companies Act 1985, which is the corresponding section, did not require the provision of paragraph (b) in this clause. Therefore, the registrar did not need to rely on the supporting evidence in that paragraph; for example, a solvency statement, an order of the court, or a reduction made under Section 582. The table of derivations claims that this clause makes no substantial change from Section 47(3) of the Companies Act 1985, but it seems to us that the above changes are quite substantial. It would be helpful to have on the record the Minister’s comments on why that has happened. I beg to move.