Company Law Reform Bill [HL]

moved Amendment No. 483A:"Page 333, line 35, leave out from ““to”” to end of line 37 and insert ““register—" ““(   )   particulars identifying every person resident in the United Kingdom authorised to accept service of documents on behalf of the company, or (   )   a statement that there is no such person.”” The noble Lord said: My Lords, in moving this amendment, I shall speak also to Amendments Nos. 483B, 483C, and 483D. Together the regulations to be made under this part of the Bill will determine the registration, reporting and disclosure requirements imposed by our company law on overseas companies, including the range of overseas companies to which the requirements apply and the offences for their breach. This part, together with the regulations to be made under it, replace the provisions made by Part 23 of the Companies Act 1985. Clause 678 imposes a disclosure requirement based on paragraph 3(e) of Schedule 21A to the Companies Act 1985 to disclose those persons resident in the UK authorised to accept service on the company’s behalf. Amendment No. 483A makes clear that the clause does not impose a requirement on the overseas company to have anyone resident in the UK able to accept service on its behalf. If there are no such persons, the company must simply make a statement to that effect. Amendment No. 483B deletes Clause 679. The provision made by that clause is replaced by the new clause to be inserted by amendment 483C. Where an overseas company has registered particulars with the registrar following the opening of a branch in the United Kingdom, the new clause will enable regulations to require the overseas company to give notice to the registrar if it subsequently closes that branch. These disclosures are a requirement of the 11th company law directive. In addition, an overseas company that has registered particulars in other circumstances specified by regulations under Clause 669 may be required by regulations made under the new clause to give notice to the registrar if those circumstances cease to obtain. The regulations will require the notice to be delivered to the registrar for the part of the United Kingdom in which the branch was registered and may set deadlines for sending the information to the registrar. Finally, Amendment No. 483D makes clear that the relocation of a branch from one part of the United Kingdom to another is to be treated as the closing of the branch in one part and the opening in another. Such provision is currently made by Section 695A(4) of the Companies Act 1985, which is being repealed. I beg to move. On Question, amendment agreed to. Clause 679 [Duty to give notice of ceasing to have registrable presence in the UK]: