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Companies Bill [HL]

My Lords, I apologise to the Minister for seeking to deny him a response to the debate. That was not my intent: as I am sure he will be aware, we are as keen to get to the end of our consideration of Commons amendments as he is. I think I was saying that I was not going to take too much of the time of the House to respond to individual points made in the debate, but I want to make our position clear. We are not against socially responsible disclosures, and I would not want anyone to seek to paint my amendment in that way. I do not believe that the Government’s amendments will require very much disclosure on the part of the companies from whom most of the NGOs want disclosure. That is a consequence of the Government’s wording. I do believe, however, as I tried to set out, that harm may well be done to smaller quoted companies by having to disclose matters that might involve either violent protesters or commercial harm. That was the basis on which I judged it right to table an amendment to seek to narrow those disclosures for those smaller companies that could be seriously affected by this. The Financial Reporting Review Panel is there to police any disclosures. Although people talk about a Trojan Horse approach and companies trying to evade proper disclosure, arrangements are already in place to ensure that it takes place. There is also a power to amend the disclosure requirements should it become necessary later. We do not think that our amendments are unreasonable. Although they offer important protection to a relatively small number of companies, they are ones that deserve protection. On Question, Whether Amendment No. 245C, as an amendment to Amendment No. 245B, shall be agreed to? Their Lordships divided: Contents, 76; Not-Contents, 137.