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Companies Bill [Lords]

With this, it will be convenient to discuss the following amendments: No. 2, in page 79, line 1, leave out clause 173. No. 392, in page 79, line 2, clause 173, after ‘faith’, insert ‘and as appropriate for the size of the company’. No. 393, line 4, leave out from ‘whole’ to end of line and insert ‘having regard, insofar as he considers them relevant, to the following factors (amongst others)—’. No. 394, line 4, after ‘to’, insert ‘what he considers, in good faith, to be’. No. 395, line 13, at end insert ‘, and (g) all common law duties of directors.’. No. 396, line 20, at end insert— ‘(4) None of the duties set out in or implied by this section shall take priority over any of the other duties.’. No. 397, line 20, at end insert— ‘(4) The duty to promote the success of the company shall be paramount.’. No. 398, line 20, at end insert— ‘(4) The Secretary of State must issue a non-statutory set of guidelines concerning the application of this section, which must be updated annually.’. No. 788, line 20, at end insert— ‘(4) The duties implied by this section shall not apply to small and medium sized companies.’.