Company Law Reform Bill [HL]

My Lords, I did not say that we propose to do nothing. We have indicated what we can do and how it might be helpful in relation to closely held companies, as opposed to public companies. But there is a real technical difficulty and we do not see a way through that. It is right that the shareholders know who the auditors are and it is right that the shareholders should be involved in any resolution that would seek to have that aim protected.