Company Law Reform Bill [HL]

My Lords, I was not going to speak on this matter, but I notice that share certificates are about 50 per cent of those held and the others are held by nominees. I am willing to bet that over the next few years, nominee shareholdings will go up and up because of the way in which the market works. I feel very strongly that shareholder rights come into this. Something has to be done in legislation to make sure that those who operate the system have to obey the rules.