Company Law Reform Bill [HL]

I thank the Minister for moving to that degree. We too will go and discuss again with those who are most closely affected by this. This is one of a number of areas where the audit profession will react to the Bill in a way that may strike the Minister as strange. Nevertheless, I hope that the Government can see the point of view of the audit firms and the individuals in them. The changes need to be thought through carefully, and it will not be satisfactory for auditors to rely only on a view expressed by the Minister at this Dispatch Box, however genuinely held that view is, because of the uncertainty about the ultimate legal position, which will be corrosive and potentially damaging. I am grateful that the Minister will think again. We too will think again between now and report, and I beg leave to withdraw the amendment. Amendment, by leave, withdrawn. [Amendment No. 317BB not moved.] Clause 492, as amended, agreed to. Clause 493 [Name of auditor etc to be stated in published copies of auditor’s report]: