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Company Law Reform Bill [HL]

I worry a little how the courts would interpret that if it became law. I accept that the courts will often look to understand what is within a general principle and to that extent will therefore be concerned about the spirit. That is one way in which to describe it; I have never seen—although I may be corrected if I am wrong—a statute that says that you have to comply with the spirit in that sense, although from time to time courts certainly say it when considering whether someone has actually broken a specific obligation imposed on them. In any event, it might well lead to confusion to use that formulation.