Company Law Reform Bill [HL]

My Lords, I thank the Minister for his reply. I accept that it is a question of balance between imposing unnecessary costs on companies on the one hand and on the other hand giving information to shareholders and perhaps even strengthening the hand of the auditors who might be being removed for reasons that are not entirely good. That has happened in the few cases which have gone to court to date where—certainly in the most recent one—the court punished the company by awarding costs against it. That did not go quite far enough because in that case the issue was kept from shareholders for a very long period of time. I accept that there is a point of balance and I will consult again with the UK Shareholders Association, but for today, I beg leave to withdraw the amendment. Amendment, by leave, withdrawn.