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Company Law Reform Bill [HL]

I am grateful to the Minister. I can safely say that it was the response that I was expecting. It is a shame that if we are to give directors responsibilities, codify them and make them responsible for the success of their companies, we do not allow them the authority to make those decisions in the round, and that we should seek to pick out one particular activity and say that it, in all cases, must be authorised by the members. That cuts across the issues that we discussed at great length in Clause 156. We may wish to return to it, but in the mean time, I beg leave to withdraw the amendment. Amendment, by leave, withdrawn.