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Company Law Reform Bill [HL]

moved Amendment No. 300UA:"Page 140, line 7, leave out subsection (1)." The noble Lord said: In moving this amendment, I shall speak also to Amendment No. 300UB. The purpose is to relieve quoted companies of an unnecessary and impractical requirement resulting from providing members with the power to require an independent report on a poll. The members may requisition an independent report on a poll, thereby requiring the company to go to the expense of appointing an independent assessor before it is known whether a poll will be taken in relation to a particular measure. For the provisions to work properly, the requirement for quoted companies to subject all resolutions to a poll may be required, but that would require detailed consideration and consultation. I beg to move.