Company Law Reform Bill [HL]

I am happy to confirm that I will look back at what the late Lord Hailsham said. I am slightly intrigued by the noble Lord’s reference to directing remarks to lawyers about reasonableness. I certainly want to see what was said about that. But, more generally and seriously, he is absolutely right that the purpose of this amendment is that the test for reasonableness, when it comes to the limitation agreements, will be that which is contained in this Act when it is passed, not the one we find in the Unfair Contract Terms Act, which is a much more general application. I hope that will reassure him that we will work to have provisions relating to reasonableness that apply to auditors with that particular context in mind, and that is what we will return to. I thank him for his reference to what Lord Hailsham said, and I look forward to reading that for myself. On Question, amendment agreed to. Clause 518, as amended, agreed to. Clause 519 [Authorisation of agreement by members of the company]: [Amendments Nos. 337B and 338 not moved.] Clause 519 agreed to. Clause 520 [Effect of liability limitation agreement]: [Amendments Nos. 339 and 339A not moved.]