Company Law Reform Bill [HL]

My Lords, we are disappointed that the Minister cannot support these amendments. They were designed to set higher tests because we are talking about the confidential information of individuals and businesses. To say that the FRRP or the Takeover Panel should not make inquiries about how the overseas bodies will handle the information in practice, or whether they have sufficient need for the information, or whether it is proportionate, seems to be putting the additional resources that are needed way over and above the rights of individuals, which are what we should be seeking to protect in dealing with information that is going to go to overseas bodies. Going to such bodies must place a higher duty than passing information through gateways within the UK. I will consider carefully the points the Minister has made and see if there is further clarification that can be had on this point. I will seek between now and Third Reading to understand why the Government regard resource requirements in these bodies as more important than the rights of individuals. I beg leave—