Company Law Reform Bill [HL]

My Lords, my amendment may offer a way forward if the Minister’s officials were prepared to think constructively around that idea. I would be happy to take part in any discussions between now and Third Reading to try to reach a solution. However, I genuinely feel that this issue is an increasing problem. We have recently seen—and we have discussed this a little in yesterday’s debate on Report—an increasing level of activity from some of the organisations that we have been talking about in relation to shareholders. We have already seen that in relation to auditors. This is a very important area where we need to improve protections and, as it stands, the Bill will not do that and we have to find a way through. I beg leave to withdraw the amendment. Amendment, by leave, withdrawn. Lord Sainsbury of Turville moved Amendments Nos. 326 to 328:"Leave out Clause 497.""After Clause 497, insert the following new clause—" ““NAMES TO BE STATED IN PUBLISHED COPIES OF AUDITOR’S REPORT (1)   Every copy of the auditor’s report that is published by or on behalf of the company must— (a)   state the name of the auditor and (where the auditor is a firm) the name of the person who signed it as senior statutory auditor, or (b)   if the conditions in section (Circumstances in which names may be omitted) (circumstances in which names may be omitted) are met, state that a resolution has been passed and notified to the Secretary of State in accordance with that section. (2)   For the purposes of this section a company is regarded as publishing the report if it publishes, issues or circulates it or otherwise makes it available for public inspection in a manner calculated to invite members of the public generally, or any class of members of the public, to read it. (3)   If a copy of the auditor’s report is published without the statement required by this section, an offence is committed by— (a)   the company, and (b)   every officer of the company who is in default. (4)   A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.”” After Clause 497, insert the following new clause— ““CIRCUMSTANCES IN WHICH NAMES MAY BE OMITTED (1)   The auditor’s name and, where the auditor is a firm, the name of the person who signed the report as senior statutory auditor, may be omitted from— (a)   published copies of the report, and (b)   the copy of the report delivered to the registrar under Chapter 11 of Part 15 (filing of accounts and reports), if the following conditions are met. (2)   The conditions are that the company— (a)   considering on reasonable grounds that statement of the name would create or be likely to create a serious risk that the auditor or senior statutory auditor, or any other person, would be subject to violence or intimidation, has resolved that the name should not be stated, and (b)   has given notice of the resolution to the Secretary of State, stating— (i)   the name and registered number of the company, (ii)   the financial year of the company to which the report relates, and (iii)   the name of the auditor and (where the auditor is a firm) the name of the person who signed the report as senior statutory auditor.”” On Question, amendments agreed to. Clause 498 [Offences relating to provision of information]: