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Company Law Reform Bill [HL]

My Lords, in Grand Committee I, too, expressed reservations about the drafting of these clauses. Since then I have unfortunately become the recipient of a derivative claim in another country that is not subject to the sort of safeguards set out here. I am acutely aware of how such claims work when there are not adequate front-end safeguards. I echo the noble Lord, Lord Hodgson: we are grateful for the work being done on stiffening, if I can use that word, the procedure by which such claims might be made. There should be a procedure for derivative claims but we must avoid opening a Pandora’s Box to every disenchanted individual in the country. Although I echo the words of the noble Lord, Lord Hodgson, that we may want to think about what is included here, I am very satisfied with what I see before me.