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Companies Bill [HL]

My Lords, I beg to move that the House do agree with the Commons in their Amendments Nos. 624 to 631. These new clauses restate Part 15 of the 1985 Act in so far as these provisions apply in relation to Part 22 of this Bill. Part 22 enables public companies and, indirectly, members of the company to ascertain the underlying beneficial owners of shares. The company may apply to the court for an order under Clause 607 directing that the shares in question be subject to various restrictions under Part 15 of the Companies Act 1985, which include voiding any transfers of the shares and providing that voting rights are not exercisable in respect of the shares. The provisions of Part 15 are restated without substantive change in the new clauses. Part 15 will remain in the 1985 Act, because it applies also to Part 14 of that Act, which will remain in force. Nevertheless, we think that it would be helpful to restate that in these new clauses, so that the reader can find all the relevant provisions for Part 22 in one place. We have consulted on these clauses and are grateful to the Law Society, in particular, for its comments and I beg to move. Moved, That the House do agree with the Commons in their Amendments Nos. 624 to 631.—(Lord McKenzie of Luton.) On Question, Motion agreed to.