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Company Law Reform Bill [HL]

The purpose here is to relieve companies of an unnecessary statutory requirement. This clause requires companies to disclose, on a website, the results of all polls taken at general meetings. It is pretty much certain that the same result can be achieved through best practice guidance, or market regulation. Indeed, it is now common practice that poll results are disclosed to the stock exchange the morning after the poll was declared. The effect of imposing those requirements through companies’ legislation is that UK companies will be subject to more onerous obligations than non-UK companies listed on the same market. It is questionable whether that is a desirable outcome as a matter of policy.