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Company Law Bill [HL]

moved Amendment No. A113A:"Page 286, line 12, leave out ““(excluding any shares held as treasury shares)””" The noble Lord said: In the twinkling of an eye we have reached Part 21, on information about interests in a company’s shares. The amendment concerns another practitioner issue. As drafted, references in this part of the Bill to a company’s shares exclude any shares held as treasury shares. There are concerns that that is not a satisfactory approach. For example, there may be times when a company wants to know who has held shares in the past, even if they are now held by the company as treasury shares. If this part does not refer to treasury shares, that will hamper the operation of Clause 590(1)(b), and companies will not be able to discover who the interested party was if the shares are now held as treasury shares. The amendment seeks to remove this seemingly unnecessary exemption of treasury shares from Clause 589. I beg to move.