Company Law Reform Bill [HL]

moved Amendment No. 122:"Page 54, line 8, leave out ““private”” and insert ““limited””" The noble Lord said: The clause requires a dated statement to be entered on a private company’s register of members whenever its number of members falls to one, or when the number increases from one. In Clause 7, the Bill introduces the possibility of public companies having only one member. The Twelfth Company Law Directive requires the fact that a limited company, whether public or private, becomes a ““one member”” company be appropriately recorded. Therefore Clause 120 needs extending so that it also covers public companies. Amendments Nos. 122, 123 and 125 simply achieve this effect. Amendment No. 124 is needed to narrow the application of the clause so that it does not apply to unlimited companies. On Question, amendment agreed to.