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Company Law Reform Bill [HL]

My Lords, I, too, support the amendment. I spoke at length about this in Committee. Ten million people now hold shares of this kind. Usually they do not have any other shares, therefore most have no opportunity to participate in the shareholding democracy. This is their one chance. It is an enormous chance to educate people about investing in companies and about taking an interest in their personal savings and investments. It is quite clear from subsequent clauses that the Government are enormously sympathetic to this and would like to see it on a voluntary basis. Sadly, I do not think that we have got any evidence that companies are willing to do it on a voluntary basis. The costs are very small. This is an important opportunity. I hope that we will be able to get nominee shareholder rights recognised in the Bill.