Company Law Reform Bill

I am grateful for that explanation in response to my probing amendment. The Minister’s response to an extent leaves unanswered a number of issues which have been raised with us, not only by the Law Society but also by the CBI. I should like to reflect on those. However, I am bound to say that I sympathise strongly with the principle that a payment to a director for loss of office as a result of an offer for shares to another company should be subject to certain approvals. That is quite right. But the law already requires certain steps to be taken. I shall certainly read the record, but for the moment I beg leave to withdraw the amendment. Amendment, by leave, withdrawn. Clause 199 agreed to. Clause 200 [Exception for payments in discharge of legal obligations etc]: