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Companies Bill [Lords]

With this it will be convenient to discuss the following: Government new clause 73—Quasi-loans to directors: requirement of members’ approval. Government new clause 74—Loans or quasi-loans to persons connected with directors: requirement of members’ approval. Amendment No. 757, in page 86, line4 [Clause1 189], at end insert— ‘(2A) A company may not agree to such a provision unless it has consulted its employees.’. Government amendment No. 591. Amendment No. 19, in page 87, line 17 [Clause 191], at end insert ‘or must be conditional on such approval being obtained’. Government amendments Nos. 592 and 593. Amendment No. 405, in page 91, line 22 [Clause 200], after ‘A’, insert, ‘relevant’. Amendment No. 406, in page 92, line 14 [Clause 200], at end insert— ‘(6) ““Relevant company”” means a company which— (a) is a public company, or (b) is a subsidiary of a public company, or (c) is a subsidiary of a company which has another subsidiary a public company, or (d) has a subsidiary which is a public company.’. Government amendments Nos. 594 to 597. Amendment No. 20, in page 94, line 4 [Clause 204], after second ‘company’, insert ‘or of its associated company’. Government amendment No. 598 Amendment No. 21, in page 94 ,line 8 [Clause 204], after ‘company’, insert ‘or where a company is permitted to give a director a qualifying third party indemnity’. Amendment No. 354, in page 94, line 8 [Clause 204], after ‘company’, insert ‘or any associated company’. Government amendments Nos. 613, 163, 164, 599 to 611, 644 and 612.