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Company Law Reform Bill [Lords]

Indeed. It is also an important Bill that comes to us after a long process of thought and reflection on how to achieve a modern framework for company law that is clear, accessible and flexible. It has benefited from the inclusive process, drawing on input from all stakeholders and interested parties. After tonight’s Second Reading, we will have ample opportunity in Committee to consider its clauses in detail. The Bill has the broad objective of ensuring better regulation. That means appropriate regulation with a focus on the needs of small businesses as well as large quoted companies, appropriate deregulation with savings to businesses both large and small, the encouragement of a long-term investment culture, and stronger shareholder engagement and involvement where shareholders seek such engagement. All those objectives feature in the Bill, which we believe will strengthen and promote Britain’s position as the best country in which to establish and to run a business. For that reason, I commend the Bill to the House. Question put and agreed to. Bill accordingly read a Second time.