Company Law Bill [HL]

Perhaps I shall repeat the last paragraph. We have chosen to use language of giving instructions to cover this sort of situation; one could also describe it in terms of ““exercising rights””. The difference between the language of the Bill and that of the amendment is that ““exercising rights”” could cover a broader range of circumstances. We are grateful to the Law Society for raising the point, and we will think carefully about what the noble Lord said. At this stage we are reluctant to make any commitment to changing the current drafting. We need to consider further what additional rights would be covered by the wording that the noble Lord, Lord Sharman, proposes, and whether it is appropriate to refer to them all in this context. To date, our main concern has been simply to preserve the existing right of registered shareholders, and subsection (4)(b) is effective for that purpose.