My Lords, I accept that. But I have the choice of who I have my ISA with. Why can I not then deal with a nominee who will do what I want; namely, send me company information if I want it and, if I ask him, give me a proxy to vote my number of shares in any way that I want? Of course, there would have to be co-operation from the company so that the nominee could say to the company, ““Look, I need 100 copies of the annual report to distribute to those who have asked for them””. Some ISA operators could provide that service and some might not. Then I would choose to have my ISA with one of those operators.
Where I voluntarily put my ISA into a nominee name, surely I should do the deal with the nominee. I could have it in my own name. For some reason—such as the stockbroker says that he will do it cheaper if it is in his name or he can do the shares deals quicker—I choose to put it in a nominee name. Why can I not say to that nominee, ““But I want you to send me the annual reports and I want a proxy that enables me to vote””? Perhaps we would have to put in the Bill a power for the nominee to get reports. I do not see why this burden has to be put on the company rather than being dealt with between the nominator and the nominee.
Company Law Reform Bill [HL]
Proceeding contribution from
Viscount Bledisloe
(Crossbench)
in the House of Lords on Tuesday, 9 May 2006.
It occurred during Debate on bills on Company Law Reform Bill [HL].
Type
Proceeding contribution
Reference
681 c817 
Session
2005-06
Chamber / Committee
House of Lords chamber
Subjects
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