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Company Law Bill [HL]

moved Amendment No. A89A:"Page 282, line 4, leave out ““is”” and insert ““of that class is to be””" The noble Lord said: I shall speak also to Amendment No.  A89B, which concerns the rather splendid, ““Step One, Step Two, Step Three, Step Four”” of Clause 579. Again, this is a practitioner-led amendment. Our amendments are designed purely to improve the clarity of the clause. Amendment No. 89A would make the Bill read:"““For each class of share the new nominal value of each share of that class is to be calculated as follows””," which would make it clear that there is a separate exercise for each class. Amendment No. A89B will make clear that that refers to both issued and unissued shares. I hope that, on this occasion, the Minister will see the benefits of that change to the clause. Draftsmen have obviously worked hard to make it clear and understandable, but we thought that we might add this little touch to it. I beg to move.