Company Law Reform Bill

moved Amendment No. 237:"Page 103, line 34, leave out ““ten”” and insert ““twelve””" The noble Lord said: I shall be brief. I thank the Institute of Chartered Secretaries and Administrators, which is concerned, as I am, that the minimum requirement to contain resolutions and minutes of directors’ meetings has been reduced to 10 years. Recent experience, from such as Equitable Life, has emphasised the importance of minutes in determining what actually went on and was agreed to by whom. The new requirement of 10 years does not fit comfortably with the statute of limitations, which is currently 12 years, for such as deeds, and even longer in other cases, such as breaches of health and safety regulations. I beg to move.