Company Law Reform Bill [HL]

The purpose of Clause 766 is to provide the definition of terms used in the Bill for the avoidance of doubt. In the case of the consolidated fund we do not see the need for such a definition as there is no room for doubt about what is being referred to. Moreover—and this may be the Bill team’s revenge—the consolidated fund was in fact established by Section 1 of the Consolidated Fund Act 1816. I therefore hope that the noble Lord will be content to withdraw this amendment.