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Company Law Reform Bill [Lords]

I imagine that if Miles Templeman were standing in my little shoes at this moment, he would robustly say that as a responsible businessman he would, in everything he does, wish to take seriously issues of the environment. If I may leap vicariously to his defence, I am pretty sure that that is what he would say in riposte. We are perfectly willing to work with the Government to improve the clause and will table amendments in Committee. Our preference is for the Government to issue a single document of non-statutory guidance, which they have indicated they are willing to do. That would give directors a greater measure of certainty and clarity than does the current drafting. If, instead, the Government insist on the new statutory statement of duties, it must be drafted so as to make it clear that, as the Secretary of State wrote yesterday,"““directors are not required to keep additional records as a result of the statutory duties; and directors who act in good faith will not be held liable””."