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Company Law Reform Bill [HL]

I support the amendments. What we are seeking to do is to ensure that all companies are subject to the same regulations and that UK companies, which are responsible for one-third of all investment overseas, are a leader in this area. I declare an interest, as a Co-op and Labour Back-Bench Peer, because the Co-operative movement has long been a supporter of fair trade and has identified itself with those causes. We believe that all companies must ensure that they report, consider and minimise the negative impact of their work. The amendments may not be perfect, as the noble Lord said, but they include qualifying language, which would impose a real and positive duty to achieve certain goals. That is what we intend to do with the Bill, so I support the noble Lord’s amendment.