Company Law Reform Bill [HL]

The Government share the noble Baroness’s view that the independent supervisor should be, and should be seen to be, independent. Indeed, the framework of provisions in Part 33 does not provide any opportunity for the auditors general to influence the decisions of the independent supervisor. I have no hesitation in saying that we do not think that one person fulfilling the role of auditor general and supervisor is appropriate in any circumstances. It certainly would not constitute effective supervision. It is inconceivable that any Secretary of State would appoint an independent supervisor who is the same person as an auditor general. Furthermore, it would be contrary to community law for the Secretary of State to appoint the same person. Accordingly, it is already the case that such an appointment would be unlawful, and there is no need to make further provision to that effect on the face of the Bill. I think that is stated as clearly as possible and I hope it will satisfy the noble Baroness.