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Company Law Reform Bill [Lords]

We did consider that, and came to the view that the right distinction was between private and public. Of course, not having a company secretary does not mean that someone does not have to be authorised to take decisions. But just as there does not have to be a company chairman—although there usually is a chairman, for private companies as well as for public companies—we thought it best to remove that requirement. As the hon. Gentleman says, for a very small company that is properly run, some requirements are excessive. A husband and wife may have to hold an AGM in their front room once a year. The hon. Gentleman makes a fair point, in that some private companies are quite big, but for that reason, and because of the amount of money that they handle, they probably would take up the option of having a company secretary. It is not mandatory not to have one, but we are giving them that option. If he is lucky enough to be on the Committee that will scrutinise the Bill, he may want to press that point further.