Company Law Reform Bill [HL]

Debate on bills and Committee proceeding on Tuesday, 14 March 2006, in the House of Lords.

Company Law Reform Bill [HL]. Lords Committee stage eighth day. Grand Committee off the floor of the House (Moses Room). Clauses 493 to 525 agreed to, clauses 492, 509, 512, 514, 518, 521, 523 to 525 agreed to as amended. Clause 526 under consideration.

Type

Parliamentary proceeding

Reference

679 c395-466GC

Session

2005-06

Department

Department of Trade and Industry
Committee of the Whole House (HL)

Legislative stage

Committee stage

Procedure

New clauses

Chamber / Committee

House of Lords Grand Committee

Company Law Reform Bill (HL). (In two volumes. Volume I contains clauses 1 to 481 and Volume II contains clauses 482-885 and schedules to the Bill ). Explanatory notes HL Bill 34-En also published.
Tuesday, 1 November 2005
Bills
House of Lords

Proceeding contributions

Baroness Goudie | 679 c410-1GC (Link to this contribution) First, I know that the opinion on ““recklessness”” has reached the department, as I had a confirmati...

Baroness Goudie | 679 c440GC (Link to this contribution) The noble Baroness, Lady Noakes, and the noble Lord, Lord Sharman, have covered the points in my ame...

Show all contributions (165)

Lord Goldsmith | 679 c445GC (Link to this contribution) I do not think it is that difficult to follow at all. Two things are clear. First, the important thi...

Baroness Noakes | 679 c445GC (Link to this contribution) I have added my name to the amendments in this group. There is considerable concern that the list of...

Baroness Noakes | 679 c423GC (Link to this contribution) I am grateful for that comprehensive reply by the Minister. I should have stated when I introduced t...

Baroness Noakes | 679 c430GC (Link to this contribution) moved Amendment No. 334B:"Page 244, line 10, leave out ““and”” and insert ““or””" The noble Barones...

Baroness Noakes | 679 c431-2GC (Link to this contribution) moved Amendment No. 334C:"After Clause 510, insert the following new clause—" ““REVIEW OF AUDITOR ...

Lord McKenzie of Luton | 679 c459-60GC (Link to this contribution) As we have been discussing, subsection (3)(a) is an exemption for offers made only to particular per...

Lord Sainsbury of Turville | 679 c466GC (Link to this contribution) I think that this might be a convenient moment for the Committee to adjourn until 3.45 pm tomorrow.

Lord Sharman | 679 c465-6GC (Link to this contribution) I thank the noble Lord for that very full explanation and response. I will read what he said in Hans...

Lord Hodgson of Astley Abbotts | 679 c451GC (Link to this contribution) I am grateful to the Minister for that response. It is a technical area and I should like to read wh...

Lord Sharman | 679 c397GC (Link to this contribution) I rise to speak to Amendment No. 317BB, which is in my name and that of my noble friend Lord Razzall...

Baroness Noakes | 679 c403GC (Link to this contribution) moved Amendment No. 317C:"Page 234, line 10, after ““resolution”” insert ““given under subsection (3...

Lord McKenzie of Luton | 679 c404GC (Link to this contribution) I am grateful; I think I now understand the point being made. As I understand it, the resolution wil...

Lord McKenzie of Luton | 679 c398GC (Link to this contribution) I am happy to try to clarify that point. We do not see the position as bringing with it any special ...

Lord McKenzie of Luton | 679 c398GC (Link to this contribution) I can only reiterate what I have said: we believe that there is no other liability which comes with ...

Baroness Noakes | 679 c398GC (Link to this contribution) I thank the Minister for his response. I understand what he is saying but it is curious that Clause ...

Viscount Allenby of Megiddo | 679 c395GC (Link to this contribution) The time is just after half-past three. I need hardly remind your Lordships that if there is a Divis...

Lord McKenzie of Luton | 679 c403-4GC (Link to this contribution) My Lords, I do not think there is any ambiguity about what ““notice of resolution”” is referred to a...

Baroness Noakes | 679 c402-3GC (Link to this contribution) I thank the Minister for that comprehensive reply. He said that it was ineffective, but I think that...

Lord Sainsbury of Turville | 679 c407-9GC (Link to this contribution) The reliability of company accounts is obviously of vital importance to shareholders, capital market...

Lord Lyell | 679 c406-7GC (Link to this contribution) Perhaps I may be allowed to intervene. I am somewhat in the state of one of the participants in that...

Baroness Noakes | 679 c398GC (Link to this contribution) The Minister has set out the view of the DTI and its advisers on this matter, but if you put yoursel...

Baroness Noakes | 679 c400-1GC (Link to this contribution) moved Amendment No. 317BC:"Page 234, line 9, at end insert—" ““(3A) The auditor’s name or the na...

Lord Clinton-Davis | 679 c399-400GC (Link to this contribution) Is there any example known to the law of an enhanced duty of care? I am not sure, but I do not think...

Lord Sainsbury of Turville | 679 c410GC (Link to this contribution) Perhaps I may make a couple of points. The disciplinary proceedings are very severe and I cannot see...

Lord Sainsbury of Turville | 679 c410GC (Link to this contribution) Let me deal with the question of additional costs and the implication that this will lead to a great...

Lord Sainsbury of Turville | 679 c411-2GC (Link to this contribution) As I explained on the previous group of amendments, because of the importance to all of us of reliab...

Lord McKenzie of Luton | 679 c422-3GC (Link to this contribution) The change that we are making in the requirements on auditors who are leaving companies is an import...

Baroness Noakes | 679 c422GC (Link to this contribution) moved Amendment No. 324:"Page 241, line 10, leave out from after ““of”” to end of line 14 and insert...

Baroness Noakes | 679 c419-20GC (Link to this contribution) I thank the Minister for that reply and thank all noble Lords who have taken part in this interestin...

Baroness Noakes | 679 c438-9GC (Link to this contribution) moved Amendment No. 334I:"Page 247, line 16, after ““that”” insert ““limits or””" The noble Barones...

Baroness Noakes | 679 c437-8GC (Link to this contribution) I am so sorry that the Minister has fallen into DTI thinking through his brief exposure to the Bill ...

Lord McKenzie of Luton | 679 c437GC (Link to this contribution) If you are going to impose extra duties and obligations for auditors to comply with, it seems to me ...

Baroness Noakes | 679 c436-7GC (Link to this contribution) I thank the Minister for that reply but I suggest that it was classic DTI think—that is, if you have...

Lord Goldsmith | 679 c446-7GC (Link to this contribution) When I first spoke on an amendment relating to this part of the Bill, I said that it was important t...

Baroness Noakes | 679 c447GC (Link to this contribution) moved Amendment No. 343ZA:"Page 249, line 5, leave out paragraph (b)." The noble Baroness said: Thi...

Lord Goldsmith | 679 c447GC (Link to this contribution) I am tempted to say, ““No, I can’t at the moment””. But we will think very hard about it. In the mea...

Lord Goldsmith | 679 c447GC (Link to this contribution) moved Amendment No. 343ZB:"Page 249, line 6, leave out ““or in the company’s articles””" On Questio...

Lord McKenzie of Luton | 679 c428GC (Link to this contribution) It is our view that the term,"““authorities responsible for public oversight””," can be interpreted...

Baroness Goudie | 679 c425-6GC (Link to this contribution) moved Amendment No. 328:"Page 243, line 8, leave out ““in the case of a major audit,””" The noble B...

Baroness Noakes | 679 c431GC (Link to this contribution) I am completely appalled by the Minister’s response. He has not given a substantive reason for the D...

Lord McKenzie of Luton | 679 c430-1GC (Link to this contribution) As I have explained, Clause 510 enables the audit authorities—the Public Oversight Board for Account...

Baroness Noakes | 679 c429GC (Link to this contribution) moved Amendment No. 334A:"Page 244, line 8, at end insert ““and a statement of reasons as required b...

Lord McKenzie of Luton | 679 c429GC (Link to this contribution) Clause 510 enables the audit authorities, the Public Oversight Board for Accountancy or one of the s...

Baroness Goudie | 679 c428GC (Link to this contribution) I beg leave to withdraw the amendment. Amendment, by leave, withdrawn. [Amendments Nos. 329 to 333...

Lord Hodgson of Astley Abbotts | 679 c428-9GC (Link to this contribution) If the Minister feels this is confusing and that he and the auditor may need clarification—and havin...

Baroness Noakes | 679 c433GC (Link to this contribution) I will not pursue this point today, although we could have a lot of fun with it. I think that the Mi...

Baroness Noakes | 679 c432GC (Link to this contribution) I thank the Minister for that reply. I will revert to the Institute of Chartered Accountants when we...

Baroness Noakes | 679 c432GC (Link to this contribution) moved Amendment No. 334CA:"Page 244, line 24, leave out from beginning to ““, any”” and insert ““If ...

Lord McKenzie of Luton | 679 c432GC (Link to this contribution) I am aware of the comments of the institute on this matter—I read its submission—but I see no need f...

Baroness Noakes | 679 c433GC (Link to this contribution) But if there are surviving or continuing auditors, how can there be a vacancy?

Baroness Noakes | 679 c435GC (Link to this contribution) I am grateful for what the Minister has said. In response to the noble Lord, Lord Clinton-Davies, I ...

Lord Clinton-Davis | 679 c434-5GC (Link to this contribution) As I indicated, I am rather worried about the word ““seriously””. At no time has the noble Baroness ...

Lord McKenzie of Luton | 679 c452-3GC (Link to this contribution) moved Amendment No. A7:"Page 250, line 28, leave out from ““526”” to end of line 29 and insert—" “...

Lord Hodgson of Astley Abbotts | 679 c457GC (Link to this contribution) I am extremely grateful to the Minister for that full response. I am particularly grateful for his a...

Lord Hodgson of Astley Abbotts | 679 c459GC (Link to this contribution) moved Amendment No. A9A:"Page 250, line 37, leave out paragraph (a) and insert—" ““(a) being mad...

Lord McKenzie of Luton | 679 c451-2GC (Link to this contribution) Subsection (3)(a) of Clause 525 ensures that the prohibition on offering shares or debentures to the...

Lord Sharman | 679 c452GC (Link to this contribution) I am grateful for the full explanation of why my amendment is surplus to requirements. In those circ...

Lord McKenzie of Luton | 679 c450-1GC (Link to this contribution) Where the presumption in subsection (2) applies, it will be for the company to prove on the balance ...

Baroness Noakes | 679 c396-7GC (Link to this contribution) The noble Lord, Lord Clinton-Davis, is waving a red flag in front of a bull, as my views on Europe a...

Lord McKenzie of Luton | 679 c397GC (Link to this contribution) moved Amendment No. 317BZA:"Page 233, line 26, leave out from first ““be”” to end of line 27 and ins...

Lord Clinton-Davis | 679 c396GC (Link to this contribution) I thought for one moment that there was a sort of knee-jerk reaction whenever the European Commissio...

Baroness Noakes | 679 c397GC (Link to this contribution) moved Amendment No. 317BA:"Page 233, line 29, after ““report”” insert ““or being named in such repor...

Lord Sharman | 679 c398GC (Link to this contribution) When the Minister reflects on this, will he take into account that, as the noble Baroness said, the ...

Baroness Noakes | 679 c404GC (Link to this contribution) I will have another go. I am grateful for the Minister’s comments, and I understand what he said abo...

Baroness Noakes | 679 c409-10GC (Link to this contribution) Before the noble Baroness decides what to do with her amendment, I raised the issue of the additiona...

Baroness Goudie | 679 c404-5GC (Link to this contribution) moved Amendment No. 318:"Page 234, line 29, leave out ““knowingly or recklessly”” and insert ““disho...

Lord Clinton-Davis | 679 c399GC (Link to this contribution) Does the noble Baroness really contend that a duty of care arises only where it is specifically ment...

Lord Sharman | 679 c399GC (Link to this contribution) I am afraid I am not satisfied with this. Essentially we are talking about an enhanced duty of care....

Baroness Noakes | 679 c400GC (Link to this contribution) I thank the Minister for moving to that degree. We too will go and discuss again with those who are ...

Lord McKenzie of Luton | 679 c400GC (Link to this contribution) If the noble Lord is making the point that there is either a duty of care or there is not, and there...

Lord Hodgson of Astley Abbotts | 679 c415GC (Link to this contribution) I listened carefully to what the Minister said. Market abuse was extraordinarily controversial in te...

Lord Sainsbury of Turville | 679 c414-5GC (Link to this contribution) As the noble Baroness said, there is already a disciplinary system for practising auditors, and the ...

Baroness Noakes | 679 c413-4GC (Link to this contribution) I have indicated that I wish to oppose the Question whether both this clause and Clause 496 shall st...

Baroness Noakes | 679 c413GC (Link to this contribution) I thank the Minister for that response. He will not be surprised that I do not find it a very satisf...

Lord Sainsbury of Turville | 679 c415-6GC (Link to this contribution) I thought that it had been assumed that there would be full consultation. I can see no circumstances...

Lord Clinton-Davis | 679 c412GC (Link to this contribution) Is the parallel drawn by the noble Baroness knowingly or recklessly inaccurate? I think it has no be...

Baroness Noakes | 679 c411GC (Link to this contribution) We have spent some time debating the specifics of Clause 494, and I shall not repeat all that materi...

Lord McKenzie of Luton | 679 c421-2GC (Link to this contribution) In responding, I shall speak first to the first group. If the second group is to be moved formally, ...

Lord Hodgson of Astley Abbotts | 679 c418GC (Link to this contribution) If I may say so, with respect, again that is a very theoretical approach. A small shareholder in a c...

Lord Sharman | 679 c417GC (Link to this contribution) I support the amendment as it seems to be the one thing that is missing here. We should remember tha...

Lord Clinton-Davis | 679 c417GC (Link to this contribution) It is perfectly open for any shareholder, when he or she receives the agenda of the meeting, to say ...

Lord Hodgson of Astley Abbotts | 679 c418GC (Link to this contribution) With respect, I think that the noble Lord is taking a perfectly accurate but theoretical view of thi...

Lord Clinton-Davis | 679 c417-8GC (Link to this contribution) The word that I was trying to think of—I could not do so as I have certain difficulties because of m...

Baroness Noakes | 679 c417GC (Link to this contribution) I suggest to the noble Lord, Lord Clinton-Davis, that much business of meetings is transacted by pro...

Lord Clinton-Davis | 679 c416-7GC (Link to this contribution) The amendment would impose on the chairman or whoever is taking the company meeting a responsibility...

Lord Hodgson of Astley Abbotts | 679 c417GC (Link to this contribution) For an external shareholder, who may not attend the meeting, to know why the auditor has resigned, a...

Lord Clinton-Davis | 679 c417GC (Link to this contribution) I accept that they are perfectly adequate reasons, but I in no way distinguish between what is being...

Baroness Noakes | 679 c416GC (Link to this contribution) I am grateful to my noble friend Lord Hodgson for his contribution on consultation. He was quite rig...

Lord Goldsmith | 679 c443GC (Link to this contribution) moved Amendment No. 337A:"Page 247, line 27, leave out from ““subject”” to end of line 28 and insert...

Lord Lyell | 679 c443-4GC (Link to this contribution) Could I take one or two minutes of the Committee’s time? Looking at some of the other amendments, su...

Lord Goldsmith | 679 c441-3GC (Link to this contribution) I start by acknowledging that I entirely understand why the noble Baroness, Lady Noakes, introduced ...

Baroness Noakes | 679 c443GC (Link to this contribution) On behalf of all those who have taken part in this debate today, we have to say how encouraged we ar...

Baroness Noakes | 679 c446GC (Link to this contribution) I have added my name to this stand part Motion for all the reasons that the noble Baroness, Lady Gou...

Baroness Goudie | 679 c446GC (Link to this contribution) This clause limits the duration of liability limitation agreements to the audit of the accounts to o...

Baroness Goudie | 679 c445GC (Link to this contribution) I accept that. I beg leave to withdraw the amendment. Amendment, by leave, withdrawn. [Amendments ...

Baroness Goudie | 679 c445GC (Link to this contribution) moved Amendment No. 340:"Page 248, line 11, leave out from ““case”” to end of line 15." The noble B...

Lord Goldsmith | 679 c444GC (Link to this contribution) I am happy to confirm that I will look back at what the late Lord Hailsham said. I am slightly intri...

Lord Goldsmith | 679 c448GC (Link to this contribution) moved Amendment No. 343ZBA:"Page 249, leave out lines 34 to 36." On Question, amendment agreed to. ...

Baroness Noakes | 679 c424GC (Link to this contribution) moved Amendment No. 326A:"Page 242, line 1, leave out ““the auditor of the application”” and insert—...

Lord McKenzie of Luton | 679 c426-8GC (Link to this contribution) Clause 509 introduces new requirements for sending copies of the statements that departing auditors ...

Lord McKenzie of Luton | 679 c429GC (Link to this contribution) The drafting of the Bill is forever on my mind. On Question, amendment agreed to. Clause 509, as a...

Baroness Goudie | 679 c428GC (Link to this contribution) moved Amendment No. 334:"Page 243, line 31, leave out ““person”” and insert ““company””" On Questio...

Lord McKenzie of Luton | 679 c428GC (Link to this contribution) moved Amendment No. 334ZA:"Page 243, line 42, leave out ““such an offence”” and insert ““an offence ...

Lord McKenzie of Luton | 679 c433GC (Link to this contribution) If the auditors have been appointed jointly and one of them ceases to be a part of that appointment,...

Lord McKenzie of Luton | 679 c432-3GC (Link to this contribution) Clause 551 deals with casual vacancies in the office of auditor. If there have been joint auditors, ...

Lord McKenzie of Luton | 679 c436GC (Link to this contribution) moved Amendment No. 334GA:"Page 246, line 10, leave out ““Notwithstanding anything in the company’s ...

Lord McKenzie of Luton | 679 c436GC (Link to this contribution) As well as obliging a company to tell members about the possibility of a statement and preventing it...

Baroness Noakes | 679 c436GC (Link to this contribution) moved Amendment No. 334H:"Page 246, line 12, at end insert ““and if such a statement has been requir...

Baroness Noakes | 679 c433-4GC (Link to this contribution) had given notice of her intention to move Amendment No. 334D:"Page 245, line 5, leave out from ““com...

Lord Geddes | 679 c434GC (Link to this contribution) With respect to the noble Lord, the amendment has not yet been moved. I think that the noble Lord wi...

Baroness Noakes | 679 c434GC (Link to this contribution) I am grateful to the Lord Chairman for that protection. As I was explaining, by raising the barrier...

Lord McKenzie of Luton | 679 c462-5GC (Link to this contribution) These are important provisions and I hope that noble Lords will forgive me if I dwell on them at a l...

Lord Sharman | 679 c460-2GC (Link to this contribution) moved Amendment No. A10:"Page 250, line 37, leave out ““calculated”” and insert ““intended””" The n...

Lord McKenzie of Luton | 679 c454GC (Link to this contribution) I will try and help the noble Lord. The financial world is moving fast, but, however sophisticated t...

Lord Hodgson of Astley Abbotts | 679 c458GC (Link to this contribution) Again, I am grateful to the Minister for that response. These are pretty technical points and I shou...

Lord Sharman | 679 c448GC (Link to this contribution) I have tabled Amendments Nos. A2 and A4 in this group. Having listened carefully to what the Ministe...

Lord McKenzie of Luton | 679 c395-6GC (Link to this contribution) Clause 492(1) states that audit firms should identify who is to sign an audit report as senior statu...

Lord McKenzie of Luton | 679 c397-8GC (Link to this contribution) For an accountant involved in an audit, being identified by his firm as senior statutory auditor wil...

Baroness Noakes | 679 c395GC (Link to this contribution) moved Amendment No. 317BZZA:"Page 233, line 19, leave out subsection (1)." The noble Baroness said:...

Baroness Noakes | 679 c405-6GC (Link to this contribution) I have added my name to Amendments Nos. 318, 319 and 320, and have tabled Amendment No. 318A in this...

Baroness Noakes | 679 c404GC (Link to this contribution) I am grateful to the Minister. I suggest to him that, as a minimum, paragraph (a) may need to be red...

Lord Razzall | 679 c399GC (Link to this contribution) Before the Minister rises, I would like to turn to the point raised by the noble Lord, Lord Clinton-...

Baroness Noakes | 679 c399GC (Link to this contribution) I am entirely happy to accept that position, but this Bill changes the nature of the role of individ...

Lord McKenzie of Luton | 679 c401-2GC (Link to this contribution) As has been identified, Clause 493 puts a duty on a company to include the name of the auditor and, ...

Lord McKenzie of Luton | 679 c399GC (Link to this contribution) I am grateful for that last specific question. I will look at the record and revert on those two cas...

Baroness Noakes | 679 c410GC (Link to this contribution) I think the Minister misunderstands. This means that every auditor in the land will do additional wo...

Lord Sainsbury of Turville | 679 c412-3GC (Link to this contribution) I think that there are parallels with others who have to consider the accounts, which is the point t...

Baroness Goudie | 679 c422GC (Link to this contribution) I am most grateful for the Minister’s comprehensive reply and his closing remarks. I beg leave to wi...

Baroness Noakes | 679 c420-1GC (Link to this contribution) I have added my name to the amendments in this group, spoken to by the noble Baroness, Lady Goudie, ...

Baroness Goudie | 679 c420GC (Link to this contribution) moved Amendment No. 321:"Page 238, line 22, at end insert ““or if it would secure needless publicity...

Lord McKenzie of Luton | 679 c418-9GC (Link to this contribution) Clause 497 enables the members of a company to remove an auditor from office at any time by ordinary...

Lord Clinton-Davis | 679 c418GC (Link to this contribution) Does the noble Lord not agree that the removal of the auditor is something very special and, for tha...

Baroness Noakes | 679 c416GC (Link to this contribution) moved Amendment No. 320A:"Page 236, line 30, at end insert—" ““( ) The notice of the resolutio...

Lord Lyell | 679 c440-1GC (Link to this contribution) I support very strongly the amendment of the noble Baroness, Lady Goudie. I hope that the noble and ...

Lord Sharman | 679 c439-40GC (Link to this contribution) I have two amendments in this group but begin by saying how much I support the noble Baroness’s comm...

Lord Goldsmith | 679 c445-6GC (Link to this contribution) moved Amendment No. 343ZZA:"Page 248, line 29, leave out subsection (3)." The noble and learned Lor...

Lord Sharman | 679 c447GC (Link to this contribution) My purpose in giving notice of my intention to oppose the Motion was exactly the same as that of the...

Baroness Noakes | 679 c447GC (Link to this contribution) I could expect nothing better this evening than for the Minister to take away another bit of the Bil...

Baroness Noakes | 679 c426GC (Link to this contribution) I have added my name to these amendments. I have nothing to add to what the noble Baroness, Lady Gou...

Lord McKenzie of Luton | 679 c424-5GC (Link to this contribution) We have already discussed the right of a company to apply to the court if it believes that the state...

Baroness Noakes | 679 c425GC (Link to this contribution) I am grateful for the way in which the Minister responded. He assumes that shareholders know rather ...

Baroness Noakes | 679 c423GC (Link to this contribution) I beg leave to withdraw the amendment. Amendment, by leave, withdrawn. [Amendments Nos. 325 and 32...

Baroness Goudie | 679 c423GC (Link to this contribution) If the current wording could be made clearer, I think that the auditors would be much happier.

Baroness Noakes | 679 c428GC (Link to this contribution) I have two points to make. The first concerns Article 36 of the statutory audit directive and the fi...

Baroness Noakes | 679 c429-30GC (Link to this contribution) I understand what the Minister is saying but I suggest that the absence of statements of reasons may...

Lord Sainsbury of Turville | 679 c433GC (Link to this contribution) moved Amendment No. 334CB:"Page 244, line 39, after ““requests”” insert ““to that effect””" On Ques...

Lord McKenzie of Luton | 679 c433GC (Link to this contribution) I reiterate, if auditors are appointed jointly and one of them ceases to part of that appointment, i...

Baroness Noakes | 679 c433GC (Link to this contribution) I suggest to the Minister that there is no vacancy; there are auditors to the company. Whether a com...

Baroness Noakes | 679 c434GC (Link to this contribution) moved Amendment No. 334E:"Page 245, line 18, after ““being”” insert ““seriously””" The noble Barone...

Lord Clinton-Davis | 679 c434GC (Link to this contribution) What is the noble Baroness’s definition of the word ““serious””?

Lord McKenzie of Luton | 679 c435GC (Link to this contribution) This group of amendments deals with the protection for the company in the unlikely event that shareh...

Lord Hodgson of Astley Abbotts | 679 c460GC (Link to this contribution) I appreciate the point the Minister is making. This was a probing amendment to find out the thinking...

Countess of Mar | 679 c466GC (Link to this contribution) The Committee stands adjourned until 3.45 pm tomorrow.

Lord Hodgson of Astley Abbotts | 679 c453-4GC (Link to this contribution) I listened very carefully to the Minister, but I should like to take us a stage further on this. I h...

Lord McKenzie of Luton | 679 c455-7GC (Link to this contribution) Clause 526 explains what is meant by an ““offer to the public”” for the purposes of the prohibition ...

Lord Hodgson of Astley Abbotts | 679 c454-5GC (Link to this contribution) moved Amendment No. A8:"Page 250, line 33, leave out subsection (2) and insert—" ““(2) There is ...

Lord Hodgson of Astley Abbotts | 679 c457-8GC (Link to this contribution) moved Amendment No. A9:"Page 250, line 35, leave out subsection (3)." The noble Lord said: I am sti...

Lord McKenzie of Luton | 679 c458GC (Link to this contribution) The exemptions set out in subsections (3) to (5) are not exhaustive. This means that an offer will n...

Lord Sharman | 679 c451GC (Link to this contribution) moved Amendment No. A6:"Page 250, line 18, leave out from first ““it”” to ““as”” in line 19 and inse...

Lord Hodgson of Astley Abbotts | 679 c449-50GC (Link to this contribution) moved Amendment No. A5A:"Page 250, line 16, at end insert—" ““( ) The presumption set out in s...

Lord Hodgson of Astley Abbotts | 679 c448-9GC (Link to this contribution) I have tabled Amendments Nos. A3 and A5 in this group and I, too, am grateful for the Minister’s ope...

Lord McKenzie of Luton | 679 c449GC (Link to this contribution) I thank the noble Lord for that question and, in particular, for raising the point about Amendment N...

Lord McKenzie of Luton | 679 c448GC (Link to this contribution) moved Amendment No. A1:"Page 250, line 11, at beginning insert ““Unless the contrary is proved,””" ...

Subjects

Disclosure of information

Audit

Accountancy

Company law

Companies

Animal experiments

Finance

Liability

Harassment

Internet

Shareholders

Vacancies

Legislation

Company Law Reform Bill (HL) 2005-06

Link

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