Debate on bill on Tuesday, 9 May 2006, in the House of Lords.

Company Law Reform Bill [HL]

Company Law Reform Bill (HL). Lords Report stage first day. (Part 1 of 2)

Secondary information

Type: Parliamentary proceeding
Reference: 681 c777-853
Session: 2005-06
Department: Department of Trade and Industry
Legislative stage: Report stage
Procedure: New clauses
Chamber / Committee: House of Lords chamber
Related items: Company Law Reform Bill (HL). As amended in Grand Committee (HL). (In two volumes)
Tuesday, 25 April 2006
Bills
House of Lords; Company Law Reform Bill [HL]
Tuesday, 9 May 2006
Parliamentary proceedings
House of Lords; Deposited Paper DEP 06/990
Thursday, 18 May 2006
Deposited papers
House of Lords
House of Commons
Proceeding contributions: Lord Hodgson of Astley Abbotts | 681 c779-80 (Link to this contribution) My Lords, I am grateful to the Minister for going over the ground once more. I congratulate him on a...; Lord Sainsbury of Turville | 681 c778-9 (Link to this contribution) My Lords, in responding to the noble Lord, Lord Hodgson, perhaps I may say that this is an area of g...; Lord Hodgson of Astley Abbotts | 681 c777-8 (Link to this contribution) moved Amendment No. 1:"Page 2, line 5, at end insert ““and Chapter 1 of Part 32 (business names)””" ...; Lord Sainsbury of Turville | 681 c780-1 (Link to this contribution) moved Amendment No. 3:"Page 4, line 25, leave out sub-paragraphs (i) and (ii) and insert ““a stateme...; Lord Sainsbury of Turville | 681 c784-5 (Link to this contribution) My Lords, in Grand Committee we considered at length the implications of the proposed abolition of t...; Lord Razzall | 681 c784 (Link to this contribution) My Lords, as noble Lords will realise, I do not normally take form points over substance. However, I...; Lord Hodgson of Astley Abbotts | 681 c782-4 (Link to this contribution) moved Amendment No. 6:"Page 6, line 1, leave out from beginning to second ““the””" The noble Lord s...; Lord Sainsbury of Turville | 681 c790 (Link to this contribution) My Lords, in a Bill of this complexity where we are trying to find a way through some very complicat...; Viscount Bledisloe | 681 c789-90 (Link to this contribution) My Lords, may I take this opportunity to raise a rather more general point? The Minister has already...; Lord Sainsbury of Turville | 681 c790-1 (Link to this contribution) My Lords, we are extremely grateful to the noble Lord, Lord Hodgson, for proposing Amendments Nos. 1...; Lord Razzall | 681 c790 (Link to this contribution) My Lords, we ought to bear in mind that this Bill started in the House of Lords, and has not yet gon...; Lord Sainsbury of Turville | 681 c788 (Link to this contribution) My Lords, I had better set the record right rather quickly on this and speak to Amendment No. 13 rat...; Lord Razzall | 681 c788 (Link to this contribution) My Lords, I do not wish to correct the noble Lord, Lord Sainsbury, who has been extremely helpful in...; Lord Hodgson of Astley Abbotts | 681 c789 (Link to this contribution) moved Amendment No. 16:"Page 8, line 36, leave out paragraph (a)." The noble Lord said: My Lords, i...; Lord Sainsbury of Turville | 681 c788-9 (Link to this contribution) moved Amendments Nos. 14 and 15:"Page 8, line 12, leave out ““In the case”” and insert ““On the form...; Lord Sainsbury of Turville | 681 c791-2 (Link to this contribution) moved Amendment No. 19:"Page 9, line 11, leave out subsection (2) and insert—" ““( ) Where a c...; Lord Hodgson of Astley Abbotts | 681 c791 (Link to this contribution) My Lords, I am grateful to the Minister. He has said that he will look at this matter and, with the ...; Lord Sainsbury of Turville | 681 c795-6 (Link to this contribution) moved Amendment No. 26:"After Clause 36, insert the following new clause—" ““NOTICE TO REGISTRAR W...; Lord Sainsbury of Turville | 681 c795 (Link to this contribution) moved Amendment No. 25:"Page 14, line 16, leave out subsection (3) and insert—" ““( ) If the e...; Lord Sainsbury of Turville | 681 c795 (Link to this contribution) moved Amendment No. 24:"Page 13, line 26, leave out sub-paragraphs (i) and (ii) and insert ““, a cur...; Lord Sainsbury of Turville | 681 c794-5 (Link to this contribution) moved Amendment No. 23:"Page 11, line 41, leave out from ““applies”” to ““must”” in line 42 and inse...; Lord Hodgson of Astley Abbotts | 681 c794 (Link to this contribution) My Lords, I am grateful to the Minister for that reassurance. In particular I noted that he promised...; Lord Sainsbury of Turville | 681 c793-4 (Link to this contribution) My Lords, we agreed in Grand Committee that it is extremely important to give companies certainty ab...; Lord Hodgson of Astley Abbotts | 681 c793 (Link to this contribution) moved Amendment No. 22:"Page 10, line 42 at end insert—" ““( ) If there is a conflict between ...; Lord Sainsbury of Turville | 681 c792-3 (Link to this contribution) moved Amendment No. 21:"Page 9, line 38, leave out subsection (1) and insert—" ““( ) Where a c...; Lord Sainsbury of Turville | 681 c796 (Link to this contribution) moved Amendment No. 27:"Page 17, line 23, leave out ““Commissioners”” and insert ““Commission””" Th...; Lord Sainsbury of Turville | 681 c792 (Link to this contribution) moved Amendment No. 20:"Page 9, line 16, leave out ““alteration”” and insert ““amendment””" On Ques...; Baroness Whitaker | 681 c786 (Link to this contribution) My Lords, I wonder if I could ask my noble friend a question in relation to four amendments in this ...; Lord Sainsbury of Turville | 681 c785-6 (Link to this contribution) moved Amendment No. 8:"Page 6, line 5, leave out ““(see sections 147 to 149) or”” and insert ““and r...; Lord Hodgson of Astley Abbotts | 681 c785 (Link to this contribution) My Lords, I am grateful to the Minister, and I agree with what he said. If there is to be a company ...; Lord Sainsbury of Turville | 681 c787-8 (Link to this contribution) moved Amendment No. 13:"Page 7, line 34, leave out subsection (3) and insert—" ““( ) A company...; Lord Sainsbury of Turville | 681 c786-7 (Link to this contribution) moved Amendment No. 10:"Page 7, line 10, at end insert—" ““( ) In the case of a company having...; Lord Sainsbury of Turville | 681 c786 (Link to this contribution) My Lords, I am afraid that there are no powers to require the disclosure of beneficial ownership. It...; Lord Lea of Crondall | 681 c834-5 (Link to this contribution) My Lords, the noble Lord has spent a few minutes making an argument that adds up to saying that ther...; Lord Patten | 681 c835 (Link to this contribution) My Lords, if tomorrow the noble Lord has the time, let alone the inclination, to read what I said, I...; Lord Lea of Crondall | 681 c832-3 (Link to this contribution) My Lords, I wish to add a couple of points to the contribution of the noble Lord, Lord Razzall, beca...; Lord Patten | 681 c833-4 (Link to this contribution) My Lords, in this debate on the amendment we are looking at the very pith, the kernel or the epicent...; Lord Razzall | 681 c832 (Link to this contribution) It is rather like saying, ““With respect””, when you do not mean that. I shall go on to make the pol...; Lord Freeman | 681 c829-31 (Link to this contribution) moved Amendment No. 78:"Page 69, line 9, leave out from ““act”” to end of line 28 and insert ““, in ...; Lord Tordoff | 681 c831 (Link to this contribution) My Lords, it may assist the House if I point out that, if Amendment No. 78 were agreed to, it would ...; Lord Forsyth of Drumlean | 681 c836-7 (Link to this contribution) My Lords, I very much agree with the noble Viscount, Lord Bledisloe, but I want to say a few words i...; Viscount Bledisloe | 681 c835-6 (Link to this contribution) My Lords, at the moment, I am tempted to support this amendment because I find the provisions diffic...; Lord Razzall | 681 c817-8 (Link to this contribution) My Lords, before the noble Viscount sits down, he has touched on one of the points that would apply ...; Viscount Bledisloe | 681 c818 (Link to this contribution) My Lords, the noble Lord suggested that I had not yet sat down, so that presumably gives me the righ...; Lord Sainsbury of Turville | 681 c818-21 (Link to this contribution) My Lords, let me reiterate that the Government are committed to promoting a long-term investment cul...; Bishop of Chester | 681 c818 (Link to this contribution) My Lords, perhaps I may offer support to the amendment. In a Bill which produced more than 1,000 ame...; Lord Sanderson of Bowden | 681 c818 (Link to this contribution) My Lords, I was not going to speak on this matter, but I notice that share certificates are about 50...; Lord Sainsbury of Turville | 681 c825 (Link to this contribution) moved Amendments Nos. 63 and 64:"Page 65, line 26, leave out paragraph (b) and insert—" ““( ) ...; Lord Sainsbury of Turville | 681 c824-5 (Link to this contribution) moved Amendment No. 62:"Page 65, leave out line 15." On Question, amendment agreed to. Clause 147 ...; Lord Hodgson of Astley Abbotts | 681 c824 (Link to this contribution) moved Amendment No. 61:"Leave out Clause 137." On Question, amendment agreed to. Clause 146 [Regis...; Lord Hodgson of Astley Abbotts | 681 c822-4 (Link to this contribution) moved Amendment No. 60:"Page 61, line 8, at end insert ““; and" ( ) all such other rights as a...; Lord Sainsbury of Turville | 681 c825 (Link to this contribution) moved Amendment No. 65:"After Clause 148, insert the following new clause—" ““REGISTER OF DIRECTOR...; Lord Sainsbury of Turville | 681 c825 (Link to this contribution) moved Amendments Nos. 66 to 69:"Page 66, line 31, leave out ““or””""Page 66, line 33, at end insert ...; Lord Sainsbury of Turville | 681 c825-6 (Link to this contribution) moved Amendments Nos. 70 and 71:"Page 66, line 42, at end insert ““or its register of directors’ res...; Lord Sainsbury of Turville | 681 c826 (Link to this contribution) moved Amendment No. 72:"Page 67, line 4, leave out ““authenticated””" The noble Lord said: My Lords...; Lord Sainsbury of Turville | 681 c826 (Link to this contribution) moved Amendments Nos. 73 and 74:"Page 67, line 5, at end insert—" ““( ) Notice of a change of ...; Lord Sainsbury of Turville | 681 c827 (Link to this contribution) moved Amendment No. 76:"Page 67, line 19, leave out ““in its articles or””" On Question, amendment ...; Lord Goldsmith | 681 c827-8 (Link to this contribution) My Lords, the effect of the amendment—I understand that the noble Lord has identified it as a probin...; Lord Freeman | 681 c827 (Link to this contribution) moved Amendment No. 77:"Page 69, line 1, leave out from ““duties”” to end of line 2 and insert ““do ...; Lord Freeman | 681 c828-9 (Link to this contribution) My Lords, I am grateful to the Attorney-General. He certainly set out the position very clearly. It ...; Lord Sainsbury of Turville | 681 c809 (Link to this contribution) My Lords, I will make a few general remarks because, from people’s comments, it might be thought tha...; Lord Borrie | 681 c809 (Link to this contribution) My Lords, the last speaker raises a number of sympathetic thoughts in my mind. He made some useful p...; Lord Forsyth of Drumlean | 681 c808-9 (Link to this contribution) My Lords, like my noble friend, I am relieved that I have not been involved in these proceedings. I ...; Baroness Murphy | 681 c808 (Link to this contribution) My Lords, I shall be brief. I support the amendment in the names of the noble Lords, Lord Hodgson of...; Lord Sainsbury of Turville | 681 c812 (Link to this contribution) My Lords, there are just two simple issues here. One is the question of whether one talks about ““pr...; Lord Clinton-Davis | 681 c812 (Link to this contribution) My Lords, is there not a case for taking this away and trying to reach a common approach? That is vi...; Lord Jenkin of Roding | 681 c811 (Link to this contribution) My Lords, I was basing my remarks in support of the amendment moved by my noble friend, on the state...; Lord Razzall | 681 c811-2 (Link to this contribution) My Lords, on this side of the House we understand that the noble Lord, as the Minister for Science, ...; Lord Forsyth of Drumlean | 681 c809-10 (Link to this contribution) My Lords, I am grateful to the Minister for giving way. There are many issues which the Government h...; Lord Sainsbury of Turville | 681 c810-1 (Link to this contribution) My Lords, of course that is correct. However, I want to make it clear that it is not because the Gov...; Lord Sainsbury of Turville | 681 c812-3 (Link to this contribution) My Lords, the point I was trying to make was that if we can find a way of strengthening this clause,...; Lord Forsyth of Drumlean | 681 c812 (Link to this contribution) My Lords, that is a gracious offer, but we on this side of the House are the Opposition and the Mini...; Lord Hodgson of Astley Abbotts | 681 c813-6 (Link to this contribution) moved Amendment No. 59:"Page 60, line 31, leave out subsection (1) and insert—" ““( ) All comp...; Lord Hodgson of Astley Abbotts | 681 c813 (Link to this contribution) My Lords, I am grateful to all those who have spoken in this important debate. Our view on these Ben...; Lord Sainsbury of Turville | 681 c812 (Link to this contribution) My Lords, perhaps I may finish saying why I do not think these amendments will work and then we can ...; Viscount Bledisloe | 681 c817 (Link to this contribution) My Lords, I accept that. But I have the choice of who I have my ISA with. Why can I not then deal wi...; Lord Razzall | 681 c816 (Link to this contribution) My Lords, I support the amendment, to which my noble friend Lord Sharman and I have added our names....; Baroness Murphy | 681 c816 (Link to this contribution) My Lords, I, too, support the amendment. I spoke at length about this in Committee. Ten million peop...; Viscount Bledisloe | 681 c816-7 (Link to this contribution) My Lords, I fully understand the problem put forward by the noble Lord, Lord Hodgson. Undoubtedly, i...; Lord Hodgson of Astley Abbotts | 681 c817 (Link to this contribution) My Lords, I am very grateful to the noble Viscount for giving way. The fact is that for a lot of sha...; Lord Razzall | 681 c797 (Link to this contribution) My Lords, in view of the Minister’s remarks in accepting the points that the noble Lord, Lord Hodgso...; Lord Sainsbury of Turville | 681 c796-7 (Link to this contribution) moved Amendment No. 31:"Page 18, line 29, at end insert—" ““(2) A company which has a common seal ...; Lord McKenzie of Luton | 681 c798 (Link to this contribution) moved Amendment No. 34:"Page 22, line 4, leave out from ““Where”” to ““sent”” in line 5 and insert “...; Lord Hodgson of Astley Abbotts | 681 c798 (Link to this contribution) moved Amendment No. 36:"Page 39, line 19, leave out paragraph (c)." The noble Lord said: My Lords, ...; Lord Sainsbury of Turville | 681 c797 (Link to this contribution) moved Amendment No. 32:"Leave out Clause 47 and insert the following new Clause—" ““EXECUTION OF D...; Lord McKenzie of Luton | 681 c797-8 (Link to this contribution) moved Amendment No. 33:"Page 21, line 40, leave out from ““Where”” to second ““the”” and insert ““a ...; Lord McKenzie of Luton | 681 c800-1 (Link to this contribution) moved Amendment No. 37:"Page 42, line 30, leave out paragraph (a) and insert—" ““( ) where no ...; Lord McKenzie of Luton | 681 c801 (Link to this contribution) moved Amendments Nos. 38 and 39:"Page 43, line 34, leave out from beginning to first ““the”” in line...; Lord McKenzie of Luton | 681 c798-800 (Link to this contribution) My Lords, Clause 92(1)(c) carries forward the current requirement contained in Section 43(3)(b) of 1...; Lord Hodgson of Astley Abbotts | 681 c800 (Link to this contribution) My Lords, I am grateful to the Minister for that further explanation. Our concern was not that there...; Lord McKenzie of Luton | 681 c801-2 (Link to this contribution) moved Amendment No. 40:"Page 45, line 1, leave out from ““limited”” to end of line 2." The noble Lo...; Lord McKenzie of Luton | 681 c802 (Link to this contribution) moved Amendments Nos. 42 to 47:"Page 45, line 28, leave out paragraph (b).""Page 45, leave out line ...; Lord McKenzie of Luton | 681 c802 (Link to this contribution) moved Amendment No. 41:"Page 45, line 26, leave out ““subscribed”” and insert ““authenticated””" Th...; Lord McKenzie of Luton | 681 c802-3 (Link to this contribution) moved Amendment No. 48:"Page 47, line 4, leave out paragraph (b)." The noble Lord said: My Lords, i...; Lord McKenzie of Luton | 681 c803 (Link to this contribution) moved Amendment No. 49:"Page 47, leave out lines 10 and 11 and insert—" ““( ) The statement of...; Lord McKenzie of Luton | 681 c803 (Link to this contribution) moved Amendments Nos. 50 to 54:"Page 48, line 27, leave out ““subscribed”” and insert ““authenticate...; Lord Hodgson of Astley Abbotts | 681 c804-5 (Link to this contribution) moved Amendment No. 56:"Page 52, line 26, leave out ““not”” and insert ““being””" The noble Lord sa...; Lord Razzall | 681 c805-6 (Link to this contribution) My Lords, I have every sympathy with the points made by the noble Lord, Lord Hodgson. What concerns ...; Lord Jenkin of Roding | 681 c806-8 (Link to this contribution) My Lords, I have hitherto taken no part in debates on the provisions of the Bill, and I have been fu...; Lord Goldsmith | 681 c838-9 (Link to this contribution) My Lords, I am disappointed and surprised at the way that the noble Lord, Lord Freeman, put his amen...; Lord MacGregor of Pulham Market | 681 c837-8 (Link to this contribution) My Lords, I am grateful for that, and I am sorry if I misheard the noble Lord. But really that enabl...; Lord Goldsmith | 681 c839-40 (Link to this contribution) My Lords, I am sorry if that is the best the noble Lord can do. It simply will not do. Paragraph (f)...; Lord Lea of Crondall | 681 c837 (Link to this contribution) My Lords, I am grateful to the noble Lord for giving way. If he reads Hansard tomorrow, I think he w...; Lord MacGregor of Pulham Market | 681 c837 (Link to this contribution) My Lords, I will be as brief as I can be. I only want to make one point. Like other non-executive di...; Lord Goldsmith | 681 c840-3 (Link to this contribution) My Lords, the noble Lord, Lord Lea, gave that answer as indeed we have given it before—and which I m...; Lord Forsyth of Drumlean | 681 c840 (Link to this contribution) My Lords, if the noble and learned Lord is arguing that this is done and provided by statute already...; Lord Goldsmith | 681 c845-6 (Link to this contribution) moved Amendment No. 79:"Page 69, leave out lines 12 to 25 and insert ““, and in doing so have regard...; Lord Freeman | 681 c843 (Link to this contribution) My Lords, we have had a frank debate. There is no meeting of minds. The Attorney-General has not add...; Lord Lea of Crondall | 681 c853 (Link to this contribution) My Lords, I am grateful to the noble Baroness, Lady Northover, and the noble Lord, Lord Razzall, for...; Lord Razzall | 681 c853 (Link to this contribution) ““Blue”” means ““not green””.; Lord Lea of Crondall | 681 c853 (Link to this contribution) That is absolutely right, my Lords. At the moment, however, it falls to me to thank my noble and lea...; Lord Lea of Crondall | 681 c853 (Link to this contribution) My Lords, I think you have to move your amendment first.; Lord Clinton-Davis | 681 c852 (Link to this contribution) My Lords, before the Minister goes on, is there some way in which the company could report on these ...; Lord Goldsmith | 681 c852-3 (Link to this contribution) My Lords, that is exactly what I was going to say; it is funny that the noble Lord should say that. ...; Baroness Thornton | 681 c847-9 (Link to this contribution) My Lords, I rise to speak to Amendments Nos. 80 to 87—Amendment No. 87 should probably have been tak...; Lord Lea of Crondall | 681 c846-7 (Link to this contribution) moved, as an amendment to Amendment No. 79, Amendment No. 79A:"Line 1, leave out ““have regard (amon...; Lord Razzall | 681 c850-1 (Link to this contribution) My Lords, before the Minister responds, I join my noble friend Lady Northover in saying how much I w...; Lord Goldsmith | 681 c851-2 (Link to this contribution) My Lords, I thank all who have taken part in this short debate. I am particularly grateful for the w...; Lord Freeman | 681 c849-50 (Link to this contribution) My Lords, now that the House has taken a vote on Amendment No. 78, we believe that Amendment No. 79 ...; Earl of Sandwich | 681 c850 (Link to this contribution) My Lords, I support the noble Baroness’s amendments because I am impressed by the technical argument...; Lord Sainsbury of Turville | 681 c781 (Link to this contribution) moved Amendment No. 4: Leave out Clause 10. On Question, amendment agreed to. Clause 11 [State...; Lord Hodgson of Astley Abbotts | 681 c781 (Link to this contribution) My Lords, we are grateful for the Minister's comments and for responding to our request to simplify ...; Baroness Northover | 681 c849 (Link to this contribution) My Lords, I support the amendments on directors’ duties. I very much welcome the Government’s Amendm...; Lord Sainsbury of Turville | 681 c781-2 (Link to this contribution) moved Amendment No. 5: Leave out Clause 11 and insert the following new Clause— "STATEMENT OF C...; Lord McKenzie of Luton | 681 c803-4 (Link to this contribution) moved Amendment No. 55:"Leave out Clause 111." On Question, amendment agreed to. Clause 116 [Right...; Lord Patten | 681 c839 (Link to this contribution) My Lords, I am glad that the noble and learned Lord has given me the opportunity to respond to his d...; Lord Razzall | 681 c831-2 (Link to this contribution) My Lords, as the Minister will appreciate, and as noble Lords will realise, during our deliberations...; Lord Hodgson of Astley Abbotts | 681 c821-2 (Link to this contribution) My Lords, I am grateful to all who have participated in this debate. The noble Viscount, Lord Bledis...; Lord Sainsbury of Turville | 681 c826-7 (Link to this contribution) moved Amendment No. 75:"Leave out Clause 151 and insert the following new Clause—" ““APPLICATION O...; Baroness Pitkeathley | 681 c853 (Link to this contribution) My Lords, Amendment No. 79 has been moved, and the noble Lord’s amendments have been spoken to.; Lord Sainsbury of Turville | 681 c853 (Link to this contribution) My Lords, I beg to move that consideration on Report be now adjourned. In moving this Motion, I sugg...
Subjects: Disclosure of information Animal welfare Company law Companies Directors Animal experiments Finance Environment Investment Documents Harassment Ethics Foreign companies Public companies Private companies Shares Shareholders
Legislation: Company Law Reform Bill (HL) 2005-06
Link: View this Parliamentary proceeding on www.publications.parliament.uk

Company Law Reform Bill [HL]

Secondary information

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