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Companies Bill [Lords]

If they are not used, the objection to them will never become reality, but they remain a tool that could be used. The hon. Gentleman should accept the existence of this mechanism, which will ensure that the conduct of directors in pursuing issues is above board and in order. If it is not, shareholders can employ the mechanism, should they so desire, to ensure that they are properly dealt with. We have put this measure in place to ensure much better shareholder engagement in the processes of a company undertaking its business. I am rather surprised that Conservative Members feel that they have to come back to this time and again and at the final hurdle say, ““Actually, we do not think this provision is going to be used at all, so why are you putting it into the Bill?”” That is a rather weak argument against a measure that will ensure that shareholders have the rights that we wish them to have in engaging in a proper way. If those rights are ever challenged, they can take advantage of the provisions in this part of the Bill. I ask hon. Members to reject amendment No. 421. The Government new clauses and amendments would deliver greater transparency, enhance shareholder engagement and ensure the realisation of the corporate governance objectives that we all support. If we want to encourage more shareholders to exercise their vote, we need to empower them with the necessary tools so that their vote counts. I therefore urge hon. Members to accept the Government new clauses and amendments and reject the others. Question put and agreed to. Clause read a Second time, and added to the Bill. It being Seven o’clock, Mr. Speaker, pursuant to Order [17 October], put forthwith the Questions necessary for the disposal of business to be concluded at that hour. Question, That new clause 14 be brought up, read the First and Second time, and added to the Bill, and that Government amendments Nos. 643 and 301 be made, put and agreed to. Amendment proposed: No. 355, in clause 307, page 142, line 23 , at end insert—