 House of Commons |
Session 2005-06 Publications on the internet Index of Amendments |
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Notices of Amendments given on Tuesday 4th July 2006 For other Amendment(s) see the following page(s) of Supplement
to Votes: Standing Committee D Company Law Reform Bill [Lords] Mr Keith Vaz 458 Clause 399, page 183, line 24, leave out subsections (5) to (7) and insert— ‘(4A) The business review must, in a manner consistent with the size and complexity of the company, include— (a) the main trends and factors likely to affect the future development, performance and position of the company’s business; (b) information about— (i) environmental matters (including the impact of the company’s business on the environment), (ii) the company’s employees, (iii) social and community issues, and (iv) persons with whom the company has contractual or other arrangements which are essential to the business of the company, including information about any policies of the company in relation to those matters and the effectiveness of those policies; (c) analysis using financial key performance indicators; and (d) where appropriate, analysis using other key performance indicators, including information relating to environmental matters, employee matters, supplier matters, and social and community issues. “Key performance indicators” means factors by reference to which the development, performance or position of the company’s business can be measured effectively. If the review does not contain information of each kind mentioned in paragraph (b)(i), (ii), (iii) and (iv), it must state which of those kinds of information it does not contain.’. Guidance on content of the business review Mr Keith Vaz NC33 To move the following Clause:— ‘(1) The Secretary of State shall from time to time publish binding, statutory guidance as to the information of each kind mentioned in section 399(4A) to be included in the business review. (2) Before publishing the guidance referred to in subsection (1), the Secretary of State shall consult such persons or bodies as he considers relevant.’. Civil actions and foreign subsidiaries Mr Keith Vaz NC34 To move the following Clause:— ‘(1) For this purposes of this section— “parent jurisdiction” means the jurisdiction within the United Kingdom in which the parent company is incorporated or (as the case may be) registered. “relevant claim” means any claim by any natural person against a relevant subsidiary in respect of personal injury suffered by the claimant outside the United Kingdom; “relevant person” means any body corporate incorporated in the United Kingdom or incorporated outside the United Kingdom but required to register a branch or place of business in the United Kingdom; “relevant subsidiary” means a subsidiary of a relevant parent which is incorporated outside of the United Kingdom. (2) The courts of the parent jurisdiction shall have jurisdiction to determine whether a parent company and its relevant subsidiary shall be jointly and severally liable in respect of any relevant claim pursuant to subsection (3) below. (3) In the event that any relevant subsidiary is held liable (whether under this section or otherwise and whether in the courts of the United Kingdom or otherwise) in respect of any relevant claim, any parent company will be jointly and severally liable and that relevant subsidiary in respect of that claim if— (a) the parent company— (i) was aware or ought reasonably to have been aware of the conduct by the relevant subsidiary which gave rise to the relevant claim; (ii) could reasonably foresee that such conduct would give rise to the type of damage which is the subject matter of that claim; and (iii) except where a relevant subsidiary is held strictly liable for the consequences of any escape or emission (in which case this paragraph shall not apply), had sufficient opportunity and time in which to take reasonable steps to prevent the loss or injury which is the subject of the relevant claim, but failed to do so; and (b) the conduct of the relevant subsidiary which gave rise to the relevant claim would have given rise to some liability (of any kind) on the part of the parent company to that claimant if the parent company had undertaken that conduct itself.’. Mr Jonathan Djanogly
459 Clause 147, page 65, line 20, at end insert ‘, the place where its register of members is kept available for inspection (if not at its registered office), or its principal place of business (if that is situated in the part of the United Kingdom in which the company is registered).’. Mr Jonathan Djanogly
460 Clause 217, page 99, line 2, at end add— ‘( ) The cost of any excess under an insurance policy permitted to be purchased under this clause may be paid for by a company or associated company, provided that it does not exceed £5,000’. Mr Jonathan Djanogly
461 Clause 580, page 286, line 15, leave out ‘private’. Mr Jonathan Djanogly
462 Clause 668, page 328, line 26, leave out ‘in value of the voting shares’ and insert ‘of the capital carrying voting rights’. Mr Jonathan Djanogly
463 Clause 668, page 328, line 34, leave out ‘in value of the voting shares’ and insert ‘of the capital carrying voting rights’. Mr Jonathan Djanogly
464 Clause 671, page 330, line 37, leave out paragraph (a). Mr Jonathan Djanogly
465 Clause 558, page 268, line 37, after ‘capital’, insert ‘or convert shares into shares of a different class provided this does not constitute any variation of rights attached to the shares so converted.’. Mr Jonathan Djanogly
466 Clause 558, page 269, line 27, at end add— ‘(6) Any conversion of rights pursuant to subsection 3(a) shall not constitute a variation of the rights attached to the shares in question and rights attached to such shares will only be carried in accordance with [sections 125 and 125A of the Companies Act 1985 c. 6].’. Mr Jonathan Djanogly
467 Clause 560, page 270, line 14, after ‘up’, insert ‘or treated as paid up’. Mr Jonathan Djanogly
468 Clause 564, page 272, line 12, at end insert ‘and any other restrictions, whether more or less onerous than the restrictions set out in this section, on the variation of rights.’. Mr Jonathan Djanogly
469 Clause 564, page 272, line 27, at end add— ‘(7) Nothing in this section affects a company’s power to vary the rights attaching to shares under subsection 125(2) of the Companies Act 1985 (c. 6) where the company has already obtained the requisite consent under subsection 125(2)(a) or convened the general meeting under subsection 125(2)(b).’. Mr Jonathan Djanogly
470 Clause 565, page 272, line 38, at end insert ‘and to any other restrictions, whether more or less onerous than the restriction specified in this section, on the variation of the rights.’. Mr Jonathan Djanogly
471 Clause 574, page 280, line 6, leave out subsection (5). Mr Jonathan Djanogly
472 Clause 574, page 280, line 11, leave out ‘twelve’ and insert ‘six’. Mr Jonathan Djanogly
473 Clause 584, page 289, line 17, at end add— ‘( ) Leave out subsection 185(5) of that Act (failure to prepare share certificates, etc.) and insert— “(5) If default is made in complying with subsection (1), an offence is committed by every officer of the company who is in default. (5A) A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale, and, on continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.”.’. Mr Jonathan Djanogly
474 Clause 590, page 293, line 2, leave out ‘10%’ and insert ‘25%’. Mr Jonathan Djanogly
475 Clause 590, page 292, line 42, after ‘passed’, insert ‘on the same day as or’. Mr Jonathan Djanogly
476 Clause 590, page 292, line 42, leave out ‘resolution effecting the’. Mr Jonathan Djanogly
477 Clause 590, page 292, line 43, after ‘redenomination’, insert ‘taking effect’. |
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