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Company Law Reform Bill [HL]

I certainly agree with the Minister’s first statement—that we will not have a meeting of the minds on this today. He had a double-barrelled reply. The first point was on turning a blind eye. I would ask him to read the amendment carefully, because that issue was clear to us. Turning a blind eye is not acceptable. Therefore, the amendment states,"““or having acquiesced in the same””," which are legal words for ““turning a blind eye””. The second point was on adequate systems. As we discussed on the previous amendment, the reality is that the problem arises where people flout the system. You can have all the systems in the world, but if they are flouted, you are suddenly stuck with it. That, to me, is unreasonable and unfair.