Amendments proposed to the Company Law Reform Bill [Lords] - continued House of Commons

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Margaret Hodge

113

Clause     735,     page     365,     line     16,     at end insert 'or

      (ba) is appointed as an authorised signatory of a company,'.


   

Margaret Hodge

267

Clause     857,     page     416,     line     1,     leave out subsection (3).


   

Margaret Hodge

268

Clause     881,     page     428,     line     33,     leave out subsection (3).


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

208

Clause     899,     page     447,     line     8,     at end insert—

    '(9)   The provisions of this section shall also extend to—

      (a) preliminary statements of results and other announcements to the market by listed companies permitted or required by the Disclosure Rules and the Transparency Rules,

      (b) companies with securities quoted on the Alternative Investment Market (AIM), and

      (c) companies admitted to trading on an EEA regulated market in situations when UK law is the applicable law.'.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

44

Clause     923,     page     457,     line     33,     leave out 'Company Law Reform' and insert 'Companies'.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

265

Clause     141,     page     63,     line     6,     at end insert 'save where the Secretary of State has reasonable grounds for suspecting that the company is carrying on criminal activity in which event the period may be less than one month, as circumstances require.'.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

148

Clause     142,     page     63,     line     38,     leave out subsection (5).


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

149

Clause     143,     page     64,     leave out lines 12 and 13.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

150

Clause     144,     page     64,     line     28,     after 'force', insert 'unless, before section 142 comes into force, the company has appointed a natural person over the age of 16 to be a further director.'.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

151

Clause     145,     page     64,     line     37,     leave out from first 'made' to end of line 38.

   

Margaret Hodge

104

Clause     145,     page     65,     line     4,     leave out 'altering' and insert 'amending'.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

270

*Clause     147,     page     65,     line     18,     leave out 'to' and insert ', 149 and'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

152

Clause     147,     page     65,     line     33,     at end insert—

    '(7)   An alternative director is not to be treated as a director for the purposes of—

      (a) sections 147 to 149 (register of directors),

      (b) section 150 (register of directors' residential addresses), and

      (c) section 152 (duty to notify registrar of changes);

    if he is so appointed for less than 1 month.'.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

153

Clause     152,     page     67,     line     32,     leave out 'Notice' and insert 'Notices'.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

157

Clause     153,     page     68,     leave out line 7.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

158

Clause     154,     page     69,     line     7,     at end insert 'or require that the meeting be adjourned to a date not earlier than 14 days after his representations have been circulated.'.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

160

Clause     156,     page     69,     leave out lines 28 and 29.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

161

Clause     156,     page     69,     line     30,     leave out subsection (3).

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

162

Clause     156,     page     69,     line     31,     leave out 'apply' and insert 'applied prior to the entry into force of this Act'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

159

Clause     156,     page     69,     line     31,     leave out from 'directors' to end of line 32.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

163

Clause     156,     page     69,     line     33,     leave out subsection (4).

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

164

Clause     156,     page     69,     line     37,     leave out subsection (5).


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

40

Clause     158,     page     70,     line     7,     after 'faith', insert 'and as appropriate for the size of the company'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

39

Clause     158,     page     70,     line     9,     leave out from 'whole,' to end of line and insert 'having regard, insofar as he considers it relevant, to the following factors (amongst others)—'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

166

Clause     158,     page     70,     line     9,     after 'to', insert 'what he considers, in good faith, to be'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

41

Clause     158,     page     70,     line     18,     at end insert ', and

      (g) all other common law duties of directors.'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

42

Clause     158,     page     70,     line     25,     at end insert—

    '(3A)   The duties implied by this section shall not apply to small and medium sized companies.'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

43

Clause     158,     page     70,     line     25,     at end insert—

    '(3B)   None of the duties set out in or implied by this section shall take priority over any of the other duties.'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

165

Clause     158,     page     70,     line     25,     at end insert—

    '( )   The duty to promote the success of the company shall be paramount.'.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

271

*Clause     159,     page     70,     line     27,     leave out subsection (1).


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

272

*Clause     160,     page     70,     line     33,     leave out subsection (2).


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

256

Clause     161,     page     71,     line     2,     after 'must', insert 'take all reasonable steps to'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

257

Clause     161,     page     71,     line     11,     leave out paragraph (a) and insert—

      '(a) if the director reasonably and in good faith believes the situation is not likely to give rise to a conflict of interest; or'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

255

Clause     161,     page     71,     line     21,     at end insert—

    '( )   The authorisation may, in either case, be given by them (unconditionally, or subject to such conditions or limitations as they may specify), either in relation to a particular matter or generally, following receipt by them of a general notice in accordance with section 168.'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

167

Clause     161,     page     71,     line     29,     at end insert—

    '(8)   Where a conflict or potential conflict arises because of multiple directorships, the duty is not infringed if the director ensures there is no disadvantage to the interests of the company.'.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

155

Clause     162,     page     71,     line     31,     after 'benefit', insert 'of more than £1,000'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

154

Clause     162,     page     71,     line     44,     at end insert—

    '(6)   This duty is not infringed if the acceptance of the benefit is approved by the board of the company.'.


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

273

*Clause     164,     page     72,     line     32,     leave out subsection (1).


   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

274

*Clause     170,     page     75,     line     21,     at end insert 'provided that, if the company has a secretary, the notice need only be sent to the company secretary.'.

   

Mr Jonathan Djanogly
Mr Crispin Blunt
James Brokenshire

275

*Clause     170,     page     75,     line     25,     after 'post' insert 'or by facsimile'.



 
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Prepared 20 Jun 2006