Company Law Reform Bill (HL). Lords Report stage second day. (Part 2 of 2).
Company Law Reform Bill [HL]
Type
Parliamentary proceeding
Reference
681 c1000-34
Session
2005-06
Legislative stage
Report stage
Chamber / Committee
House of Lords chamber
Company Law Reform Bill (HL). As amended in Grand Committee (HL). (In two volumes)
Tuesday, 25 April 2006
Bills
House of Lords
Tuesday, 25 April 2006
Bills
House of Lords
Proceeding contributions
Baroness Noakes | 681 c1003-4 (Link to this contribution)
moved Amendment No. 280:"After Clause 445, insert the following new clause—"
““DATA PROTECTION, ET...
Baroness Noakes | 681 c1002-3 (Link to this contribution)
My Lords, I thank the Minister for that explanation, which, I fear, has not taken us much further fo...
Show all contributions (80)
Lord McKenzie of Luton | 681 c1001-2 (Link to this contribution)
My Lords, under Clause 444(5) disclosures may be made to overseas regulatory authorities by the FRRP...
Baroness Noakes | 681 c1000-1 (Link to this contribution)
moved Amendment No. 277:"Page 208, line 38, leave out ““, (4) and (5)”” and insert ““and (4)””"
The...
Lord McKenzie of Luton | 681 c1004 (Link to this contribution)
My Lords, we have some sympathy with the first part of the new clause tabled by the noble Baroness, ...
Baroness Noakes | 681 c1004 (Link to this contribution)
My Lords, I am grateful to the Minister. I beg leave to withdraw the amendment.
Amendment, by leave...
Lord Hodgson of Astley Abbotts | 681 c1011-2 (Link to this contribution)
My Lords, I am grateful to the Minister. His response is a half loaf, and perhaps a generous half. F...
Lord McKenzie of Luton | 681 c1011 (Link to this contribution)
My Lords, as I indicated when we debated the other amendment in the name of the noble Lord, Lord Hod...
Lord Sainsbury of Turville | 681 c1012 (Link to this contribution)
moved Amendment No. 295:"Leave out Clause 467 and insert the following new Clause—"
““THE INDEPEND...
Lord Sainsbury of Turville | 681 c1012 (Link to this contribution)
moved Amendment No. 293:"Page 219, line 35, leave out ““£250,000”” and insert ““£500,000””"
On Ques...
Lord Sainsbury of Turville | 681 c1012 (Link to this contribution)
moved Amendment No. 290:"Page 219, line 28, leave out ““£1.4 million”” and insert ““£2.8 million””"
...
Lord Lyell | 681 c1012 (Link to this contribution)
My Lords, I should advise your Lordships that if Amendment No. 290 is agreed to, I shall not be able...
Lord Sainsbury of Turville | 681 c1013 (Link to this contribution)
moved Amendment No. 299:"Leave out Clause 471."
On Question, amendment agreed to.
Clause 472 [Righ...
Lord Sainsbury of Turville | 681 c1013 (Link to this contribution)
moved Amendment No. 298:"Leave out Clause 470."
On Question, amendment agreed to.
Clause 471 [Mean...
Lord Sainsbury of Turville | 681 c1013 (Link to this contribution)
moved Amendment No. 297:"Leave out Clause 469."
On Question, amendment agreed to.
Clause 470 [Inde...
Lord Sainsbury of Turville | 681 c1012-3 (Link to this contribution)
moved Amendment No. 296:"Leave out Clause 468 and insert the following new Clause—"
““THE INDEPEND...
Baroness Noakes | 681 c1004 (Link to this contribution)
moved Amendment No. 281:"Leave out Clause 447."
On Question, amendment agreed to.
Lord Sainsbury of Turville | 681 c1006 (Link to this contribution)
moved Amendment No. 283:"Page 213, line 31, leave out from beginning to second ““and””"
On Question...
Lord McKenzie of Luton | 681 c1004-6 (Link to this contribution)
moved Amendment No. 282:"After Clause 450, insert the following new clause—"
““GENERAL POWER TO MA...
Lord Sainsbury of Turville | 681 c1006 (Link to this contribution)
moved Amendments Nos. 284 to 285:"Page 214, leave out line 12.""Page 214, line 16, at end insert—""s...
Lord McKenzie of Luton | 681 c1008-10 (Link to this contribution)
My Lords, first, I shall respond to objections to there being two processes for the two different so...
Lord Sharman | 681 c1007-8 (Link to this contribution)
My Lords, I support the noble Baroness in these amendments. She asked me to confirm that my report d...
Lord Hodgson of Astley Abbotts | 681 c1010-1 (Link to this contribution)
moved Amendment No. 287:"Page 216, line 27, leave out ““meets the following conditions”” and insert ...
Baroness Noakes | 681 c1010 (Link to this contribution)
My Lords, methinks the Minister doth protest too much. We were treated to a long explanation of Part...
Lord Sharman | 681 c1011 (Link to this contribution)
My Lords, as the noble Lord, Lord Hodgson, has said, my name and that of my noble friend Lord Razzal...
Lord McKenzie of Luton | 681 c1016 (Link to this contribution)
moved Amendments Nos. 310 and 311:"Page 228, line 27, leave out ““480(1)”” and insert ““480””""Page ...
Baroness Noakes | 681 c1016-7 (Link to this contribution)
moved Amendment No. 312:"Page 229, line 40, leave out ““negative”” and insert ““affirmative””"
The ...
Lord Sharman | 681 c1017 (Link to this contribution)
My Lords, I support the noble Baroness, Lady Noakes. The provision is surplus to requirements, as sh...
Lord McKenzie of Luton | 681 c1014-5 (Link to this contribution)
moved Amendment No. 305:"After Clause 475, insert the following new clause—"
““APPOINTMENT OF AUDI...
Lord McKenzie of Luton | 681 c1015 (Link to this contribution)
moved Amendments Nos. 306 and 307:"Page 226, line 29, leave out ““475(1)”” and insert ““(Appointment...
Lord McKenzie of Luton | 681 c1015 (Link to this contribution)
moved Amendment No. 308:"Leave out Clause 477."
On Question, amendment agreed to.
Clause 480 [Appo...
Lord McKenzie of Luton | 681 c1015-6 (Link to this contribution)
moved Amendment No. 309:"Page 228, line 3, leave out subsections (1) to (3) and insert—"
““(1) An ...
Lord Sainsbury of Turville | 681 c1013 (Link to this contribution)
moved Amendment No. 300:"Page 224, line 32, leave out ““reporting accountant”” and insert ““independ...
Lord McKenzie of Luton | 681 c1013 (Link to this contribution)
moved Amendment No. 303:"After Clause 474, insert the following new clause—"
““GENERAL POWER OF AM...
Lord McKenzie of Luton | 681 c1013-4 (Link to this contribution)
moved Amendment No. 304:"Leave out Clause 475."
The noble Lord said: My Lords, in moving Amendment ...
Baroness Noakes | 681 c1021-2 (Link to this contribution)
moved Amendment No. 321:"Page 235, line 17, at end insert ““in his own name, for and on behalf of th...
Lord Sharman | 681 c1022 (Link to this contribution)
My Lords, I support the noble Baroness’s amendment. I shall not repeat what she said, but she has it...
Baroness Noakes | 681 c1021 (Link to this contribution)
moved Amendment No. 318:"Page 232, line 33, leave out first ““proper”” and insert ““adequate””"
On ...
Lord Sainsbury of Turville | 681 c1021 (Link to this contribution)
moved Amendment No. 319:"Page 232, line 33, leave out second ““proper””"
On Question, amendment agr...
Baroness Noakes | 681 c1021 (Link to this contribution)
My Lords, I am happy to accept the three-quarters loaf that I am offered in this case.
On Question,...
Lord Sainsbury of Turville | 681 c1021 (Link to this contribution)
moved Amendment No. 317:"Page 232, line 25, leave out ““proper””"
On Question, amendment agreed to....
Baroness Noakes | 681 c1020 (Link to this contribution)
moved Amendment No. 316:"Page 232, line 24, leave out ““proper”” and insert ““adequate””"
The noble...
Baroness Noakes | 681 c1020 (Link to this contribution)
moved Amendment No. 315:"Leave out Clause 488."
On Question, amendment agreed to.
Clause 490 [Duti...
Lord McKenzie of Luton | 681 c1019-20 (Link to this contribution)
moved Amendment No. 314:"Page 231, line 32, at end insert—"
““Expressions used in this subsection ...
Baroness Noakes | 681 c1025 (Link to this contribution)
Well, my Lords, that has explained that the Government agree with me that there is a problem and tha...
Lord McKenzie of Luton | 681 c1025 (Link to this contribution)
My Lords, I did not say that we propose to do nothing. We have indicated what we can do and how it m...
Baroness Noakes | 681 c1025 (Link to this contribution)
My Lords, I will need to discuss this with bodies such as the Institute of Chartered Accountants, be...
Baroness Noakes | 681 c1023 (Link to this contribution)
My Lords, I am delighted that the Government have addressed this point in Amendment No. 322 in a muc...
Lord Sharman | 681 c1023-4 (Link to this contribution)
My Lords, I add my endorsement of what the noble Baroness has said. I, too, was very concerned in Co...
Baroness Noakes | 681 c1024 (Link to this contribution)
moved Amendment No. 325:"Page 236, line 11, at end insert—"
““( ) The company shall ensure that an...
Lord McKenzie of Luton | 681 c1024-5 (Link to this contribution)
My Lords, I apologise for the fact that the noble Baroness has not received a letter from me. I cann...
Lord McKenzie of Luton | 681 c1022-3 (Link to this contribution)
My Lords, we started by seeing no need for Amendment No. 321. We would not expect adding the words,"...
Lord McKenzie of Luton | 681 c1023 (Link to this contribution)
moved Amendment No. 322:"Page 235, line 29, after ““not,”” insert ““by reason of being named or iden...
Baroness Noakes | 681 c1023 (Link to this contribution)
My Lords, I am grateful to the Minister for agreeing to take that away. I hope that he will take awa...
Baroness Noakes | 681 c1019 (Link to this contribution)
My Lords, this debate has demonstrated that the Minister and possibly even his officials have not se...
Lord Sharman | 681 c1017 (Link to this contribution)
My Lords, if I provided the Minister with a copy of a letter of engagement, in confidence, would he ...
Lord McKenzie of Luton | 681 c1018 (Link to this contribution)
My Lords, I would be very happy to receive a copy. I have looked at these things in the distant past...
Lord Sharman | 681 c1018 (Link to this contribution)
My Lords, I am grateful to the Minister for giving way again. I think the phrase ““in the distant pa...
Lord Sharman | 681 c1018 (Link to this contribution)
My Lords, with the greatest respect—which, as my noble friend Lord Razzall, says, means, ““I am not ...
Lord McKenzie of Luton | 681 c1018 (Link to this contribution)
My Lords, the Government’s proposition does not rest on my experience of these matters. The people w...
Lord Hodgson of Astley Abbotts | 681 c1018 (Link to this contribution)
My Lords, I am sorry the Minister is having such a difficult time, but the noble Lord, Lord Sharman,...
Lord McKenzie of Luton | 681 c1018-9 (Link to this contribution)
My Lords, it is unfortunate that the noble Lord should speak for all shareholders in that way. Some ...
Lord McKenzie of Luton | 681 c1017 (Link to this contribution)
My Lords, Clause 484 is one of a small number of new provisions, despite the protestations, relating...
Lord Sainsbury of Turville | 681 c1031 (Link to this contribution)
My Lords, it was not this side of House that raised the question of box-ticking; the argument that i...
Lord Sharman | 681 c1031 (Link to this contribution)
My Lords, it is wrong to demean this issue by describing it as box-ticking. The consequence of what ...
Baroness Goudie | 681 c1030 (Link to this contribution)
My Lords, I have added my name to this amendment and support the noble Baroness, Lady Noakes, and th...
Lord Sainsbury of Turville | 681 c1031-4 (Link to this contribution)
My Lords, I must point out that this has endlessly been the argument. People say with horror in thei...
Baroness Noakes | 681 c1027-9 (Link to this contribution)
moved Amendment No. 329:"Page 236, line 31, leave out ““knowingly or recklessly”” and insert ““disho...
Lord Sharman | 681 c1029-30 (Link to this contribution)
My Lords, my name is attached to this amendment. For the sake of brevity—it is a quarter to 10 at ni...
Lord McKenzie of Luton | 681 c1025 (Link to this contribution)
My Lords, if it will help, I am very happy to say that we do not think that we are in a happy situat...
Baroness Noakes | 681 c1025-6 (Link to this contribution)
My Lords, my amendment may offer a way forward if the Minister’s officials were prepared to think co...
Lord Sharman | 681 c1034 (Link to this contribution)
My Lords, before the Minister sits down, perhaps he could clarify something that I thought that I he...
Lord Sainsbury of Turville | 681 c1034 (Link to this contribution)
No, my Lords, if I did not say it, I meant, ““knowingly or recklessly””. It is rather difficult to k...
Baroness Noakes | 681 c1034 (Link to this contribution)
My Lords, I thank the Minister for that comprehensive reply which, of course, we will have to study ...
Lord Sainsbury of Turville | 681 c1034 (Link to this contribution)
My Lords, I beg to move that further consideration on Report be now adjourned.
Moved accordingly an...
Lord Sainsbury of Turville | 681 c1030-1 (Link to this contribution)
My Lords, Clause 498 creates a new offence for auditors who knowingly or recklessly cause an audit r...
Baroness Noakes | 681 c1006-7 (Link to this contribution)
moved Amendment No. 286:"Page 215, line 42, leave out paragraph (b)."
The noble Baroness said: My L...
Baroness Noakes | 681 c1031 (Link to this contribution)
My Lords, I did not say ““box-ticking””. I said that there would be more auditing, more documentatio...
Lord McKenzie of Luton | 681 c1020-1 (Link to this contribution)
My Lords, I rise to support the noble Baroness on Amendments Nos. 316, and also to speak in support ...
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