Company Law Reform Bill [HL]

My Lords, I am afraid that there are no powers to require the disclosure of beneficial ownership. It is almost impossible to define and extremely easy to evade. Clause 139 requires at least one director to be a natural person. We do not think it right to prohibit corporate directors entirely because the facility is useful for some organisations, particularly trade associations. Indeed, it is a requirement for open-ended investment companies. We cannot use this part of the Bill to help. On Question, amendment agreed to. Clause 16 [Issue of certificate of incorporation]: [Amendment No. 9 not moved.] Clause 17 [Effect of registration]: