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Company Law Reform Bill [HL]

moved Amendment No. 165:"Page 69, line 23, at end insert—" ““(   )   In the case of a parent company, the duty imposed by this section shall apply to the directors of the parent company as if the activities of each subsidiary company, whether directly or indirectly held, were undertaken by the parent company.”” The noble Lord said: The Committee will be pleased to know that I have lost my notes on Amendment No.  165. However, it is pretty obvious that unless we get more of a handle on the duties of directors and the duty of care, which are clearer for UK operations than for operations in the rest of the world, we will not be able to contribute to the discussion that we have just been having on Amendment No. 163. I am sure that my noble and learned friend has copious notes which make one or two points about this and I do not wish to deny him that opportunity.