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Company Law Reform Bill [HL]

I should like to support what my noble friend has said. If the man or woman in the street is to understand anything about companies, transparency on how they operate is vital. That does not happen at the moment. I speak as a former solicitor with a large firm in the City, one known to the noble Lord, Lord Sharman, because we had a lot to do with each other. I challenge anyone to compute the fact that the man or woman in the street can understand what is really happening. It is important both for the public and for the company concerned. It is therefore vital that we draw aside the curtain of blindness which shrouds the detail of what goes on as regards the issues that have been raised by my noble friend. The issue of transparency must be properly addressed, and that is what the amendments are all about. For that reason, I support my noble friend.