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Company Law Reform Bill

The purpose of Amendment No. 175 is to try to facilitate the simple flow of information from the directors or even the proposed directors of a company about their general business affairs. I am on the side of the directors here in that I am trying to encourage more directors, particularly non-executive directors, to stand for office and to be selected. In response to the noble Lord, Lord Wedderburn, I confirm that the amendment is specifically addressed to public companies, because that is where the need arises. It is designed to give the board of directors and the secretary—following a later amendment to which I shall speak—giving notice, for example, of the companies of which the director is an officer, the nature of the responsibilities with them, the nature of their business and the existing relationships not only of the company where any conflict of interest must be avoided, but between the other companies. It is designed to ensure that notice is given to the board of directors of other responsibilities. That is why it is couched in general terms, although I know that we shall consider this in further detail when we come to Clause 168. I hope that those interested in this problem will read the record and provide further evidence and advice to noble Lords on this side of the Committee. In the meantime, I beg leave to withdraw the amendment. Amendment, by leave, withdrawn.