Company Law Reform Bill [HL]

moved Amendment No. A204LA:"Page 466, line 5, leave out ““wholly”” and insert ““materially””" The noble Lord said: This issue has been raised by the Law Society. The operation of paragraph 13(2) of Schedule 6 is believed to be too strict as drafted. It may operate so that the unavailability of a company’s website for a short period may invalidate publications generally made on the website. The concern is that if there is no threshold of materiality, companies may be discouraged from communicating with shareholders via the website. This amendment inserts a provision to make its operation less strict by replacing the word ““wholly”” with the word ““materially””. I beg to move.