Company Law Reform Bill

moved Amendment No. 186:"Page 74, line 18, at end insert ““, however, an omission from, or mistake in, such a notice will not render the notice ineffective, provided such omission or mistake is not material””" The noble Lord said: In moving Amendment No. 186 I shall speak also to Amendments Nos. 188 and 191. Amendment No. 186 seeks to ensure that minor omissions or mistakes do not render a general notice invalid, giving rise to a technical breach of the disclosure obligation. It seeks guidance and an explanation of whether a minor omission could invalidate the process. The purpose of Amendment No. 188 again seeks to clarify that a minor oversight cannot be used to invalidate the members’ approval of directors’ long-term service contracts if the procedures for obtaining members’ approval are otherwise adhered to. Last, Amendment No. 191 is designed to provide protection where a company falls short of strict adherence to the procedures in Clause 180 by accidental omission rather than deliberate intention. The amendments seek to ensure that draconian measures are not invoked unnecessarily. I beg to move.