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

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Mr Secretary Darling

695

Page 14, line 11 [Clause 33], after ‘guarantee,’ insert ‘a copy of’.

Mr Secretary Darling

696

Page 14, line 28 [Clause 34], leave out ‘, when registered,’.

Mr Secretary Darling

697

Page 14, line 29 [Clause 34], leave out ‘, signed and sealed’.


Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

4

Page 15, line 23 [Clause 36], at end insert ‘or such longer time as the court allows’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

3

Page 15 [Clause 36], leave out lines 26 to 30 and insert—

        ‘(b) if the order—

          (i) amends the company’s articles, or

          (ii) amends a resolution or agreement to which Chapter 3 applies (resolutions and agreements affecting the company’s constitution), or

          (iii) gives leave for the company to make any, or any specified, alteration in its articles,’.

Mr Secretary Darling

698

Page 15, line 39 [Clause 36], at end insert—

      ‘( ) This section does not apply where provision is made by another enactment for the delivery to the registrar of a copy of the order in question.’.


Mr Secretary Darling

158

Page 40, line 7 [Clause 91], leave out sub-paragraphs (i) to (iii) and insert—

          ‘(i) is made under section 640 (reduction in connection with redenomination of share capital),

          (ii) is supported by a solvency statement in accordance with section 657, or

          (iii) has been confirmed by an order of the court under section 662, and’.

Mr Secretary Darling

804

Page 40, line 15 [Clause 91], leave out subsection (6).


Mr Secretary Darling

784

Page 41, line 4 [Clause 92], leave out from ‘the’ to end of line 5 and insert ‘same meaning as in section 834 (net asset restriction on distributions by public companies).’.

Mr Secretary Darling

159

Page 41, line 16 [Clause 93], leave out paragraph (a) and insert—

        ‘(a) the requirements of section 607(1)(a) and (b) have been complied with (independent valuation of non-cash consideration; valuer’s report to company not more than six months before allotment), or’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

5

Page 41, line 17 [Clause 93], leave out ‘108 of the Companies Act 1985’ and insert ‘610’.


Mr Secretary Darling

160

Page 42, line 16 [Clause 93], leave out sub-paragraph (i) and insert—

          ‘(i) Part 27 of this Act (arrangements and reconstructions), or’.

Mr Secretary Darling

767

Page 42, line 25 [Clause 94], at beginning insert ‘in the case of a company without a secretary,’.

Mr Secretary Darling

768

Page 42, line 43 [Clause 95], leave out ‘(or continue to be)’.


Mr Secretary Darling

769

Page 43, line 19 [Clause 96], leave out from beginning to ‘as’ in line 20 and insert—

        ‘(c) where the application contained a statement under section 95 (statement of proposed secretary), the person or persons named in the statement’.


Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

6

Page 66, line 5 [Clause 146], after ‘A’, insert ‘first named’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

7

Page 66, line 5 [Clause 146], at end insert ‘or persons’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

8

Page 66, line 6 [Clause 146], after ‘nominate’, insert ‘in accordance with section 1109’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

9

Page 66, line 6 [Clause 146], after ‘person’, insert ‘or those persons’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

351

Page 66, line 9 [Clause 146], leave out ‘class’ and insert ‘category’.

Mr Secretary Darling

339

Page 66, line 15 [Clause 146], at end insert—

      ‘( ) The reference in subsection (3)(a) to communications that a company sends to its members generally includes the company’s annual accounts and reports.

      For the application of section 432 (option to provide summary financial statement) in relation to a person nominated to enjoy information rights, see subsection (4A) of that section.’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

10

Page 66, line 26 [Clause 147], after ‘address’, insert ‘within the United Kingdom’.

Mr Secretary Darling

553

Page 66, line 34 [Clause 147], leave out from ‘Schedule’ to first ‘company’ in line 35 and insert ‘5 (communications by’.’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

11

Page 66 [Clause 147], leave out line 40 and insert—

      ‘(6) The agreement referred to in subsection (5)—’.


Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

12

Page 67, line 4 [Clause 148], after third ‘the’, insert ‘first named’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

13

Page 67, line 5 [Clause 148], at end insert ‘in accordance with section 1109’.

Mr Secretary Darling
Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Total signatories: 7

15

Page 67, line 6 [Clause 148], leave out ‘of’ and insert ‘to’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

352

Page 67, line 11 [Clause 148], at end insert ‘; or

        (c) upon the nominated person ceasing to have a beneficial interest in the shares in question.’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

14

Page 67, line 11 [Clause 148], at end insert—

      ‘(3A) The nomination terminates when the nominated person ceases to be the beneficial owner of the shares in respect of which the nomination is made. The nominated person or the member is required to notify the company when the nominated person ceases to own the shares in question beneficially.’.


Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

16

Page 68, line 5 [Clause 149], leave out ‘be accompanied by’ and insert ‘include’.

Mr Secretary Darling

442

Page 68, line 8 [Clause 149], leave out ‘or’ and insert ‘and’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

17

Page 68, line 22 [Clause 150], at end insert—

      ‘(2A) The nominated person has no right to enforce the rights conferred by the nomination against the company as they were conferred by the company’s articles.’.


Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

18

Page 69, line 10 [Clause 151], after ‘rights)’, insert ‘and sections 152 and 153 (exercise of rights where shares held on behalf of others)’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

353

Page 69, line 22 [Clause 152], after ‘company’, insert ‘whose shares are admitted to trading on a regulated market’.


Mr Secretary Darling

805

Page 268, line 36 [Clause 556], at end insert—

      ‘But see section (Authorised minimum: application of initial requirement) (initial authorised minimum share capital requirement for public company to be met by reference to share capital denominated in sterling or euros).’.


Mr Secretary Darling

615

Page 270, line 14 [Clause 562], leave out from second ‘that’ to ‘to’ in line 15 and insert ‘, neither as respects dividends nor as respects capital, carries any right’.


Mr Secretary Darling

699

Page 272, line 9 [Clause 565], at end insert—

      ‘(9) Chapter 3 of Part 3 (resolutions affecting a company’s constitution) applies to a resolution under this section.’.

Mr Secretary Darling

616

Page 272, line 32 [Clause 567], at end insert ‘that’.

Mr Secretary Darling

617

Page 272, line 33 [Clause 567], at end insert ‘and’.


Mr Secretary Darling

214

Page 273, line 13 [Clause 568], leave out ‘2’ and insert ‘3’.


Mr Secretary Darling

574

Page 276, line 7 [Clause 576], after first ‘holder’ insert ‘—

        (a) has no registered address in an EEA State and has not given to the company an address in an EEA State for the service of notices on him, or

        (b) ’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

26

Page 276, line 7 [Clause 576], after ‘warrant’, insert ‘or has no registered address in the United Kingdom and has not given to the company an address in the United Kingdom for the service of notices on him’.

Mr Secretary Darling

575

Page 276, line 10 [Clause 576], leave out ‘of not less than 21 days’.

Mr Secretary Darling

576

Page 276, line 11 [Clause 576], at end insert—

      ‘(4A) The period must be a period of at least 21 days beginning—

        (a) in the case of an offer made in hard copy form, with the date on which the offer is sent or supplied;

        (b) in the case of an offer made in electronic form, with the date on which the offer is sent;

        (c) in the case of an offer made by publication in the Gazette, with the date of publication.’.

Mr Secretary Darling

577

Page 276, line 13 [Clause 576], leave out ‘(4)’ and insert ‘(4A)’.

Mr Secretary Darling

618

Page 276, line 37 [Clause 578], leave out from ‘shares’ to end of line 39.


Mr Secretary Darling
Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Total signatories: 7

27

Page 283, line 17 [Clause 595], after ‘pay’, insert ‘a’.

Mr Secretary Darling

578

Page 283, line 33 [Clause 597], at end insert ‘a cash consideration.

      (2A) A “cash consideration” means’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

28

Page 283, line 38 [Clause 597], at end insert ‘or

        ‘(e) the creation of an obligation to make a payment to or for the account of the company in accordance with the rules and practices of the operator of a relevant system as defined by regulation 2(1) of the Uncertificated Securities Regulations 2001.’.

Mr Secretary Darling

579

Page 283, line 38 [Clause 597], at end insert ‘, or

        (e) payment by any other means giving rise to a present or future entitlement (of the company or a person acting on the company’s behalf) to a payment, or credit equivalent to payment, in cash.’.

Mr Secretary Darling

580

Page 283, line 38 [Clause 597], at end insert—

      ‘( ) The Secretary of State may by order provide that particular means of payment specified in the order are to be regarded as falling within subsection (2)(e).’.


Mr Secretary Darling

581

Page 284, line 7 [Clause 597], at end insert—

      ‘(5) An order under this section is subject to negative resolution procedure.’.


Mr Secretary Darling

620

Page 286, line 35 [Clause 603], after ‘Chapter’ insert ‘or Chapter 6’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

29

Page 286, line 35 [Clause 603], after ‘Chapter’, insert ‘or Chapter 6 of this Part’.


Mr Secretary Darling

621

Page 287, line 6 [Clause 603], after ‘Chapter’ insert ‘or Chapter 6’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

30

Page 287, line 6 [Clause 603], after ‘Chapter’, insert ‘or Chapter 6 of this Part’.

Mr Secretary Darling

622

Page 287, line 23 [Clause 603], after ‘Chapter’ insert ‘or Chapter 6’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

31

Page 287, line 23 [Clause 603], after ‘Chapter’, insert ‘or Chapter 6 of this Part’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

32

Page 287, line 44 [Clause 605], after ‘Chapter’, insert ‘or Chapter 6 of this Part’.

Mr Secretary Darling

623

Page 287, line 46 [Clause 605], after ‘Chapter’ insert ‘or Chapter 6’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

33

Page 287, line 46 [Clause 605], after ‘Chapter’, insert ‘or Chapter 6 of this Part’.


Mr Secretary Darling

624

Page 288, line 24 [Clause 607], at end insert—

      ‘Accordingly, subsection (1) does not apply in that case.’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

34

Page 288, line 24 [Clause 607], at end insert ‘and accordingly subsection (1) does not apply in that case’.

Mr Secretary Darling

625

Page 288, line 29 [Clause 607], leave out ‘Chapter’ and insert ‘section or section 610’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

35

Page 288, line 29 [Clause 607], after ‘Chapter’, insert ‘(excluding sections 611 and 612)’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

37

Page 288, line 34 [Clause 610], at end insert ‘and accordingly subsection (1) does not apply in that case’.


Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

36

Page 290, line 20 [Clause 610], after first ‘valuation’, insert ‘,’.


Mr Secretary Darling

626

Page 295, line 35 [Clause 620], after ‘Chapter’ insert ‘or Chapter 5’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

38

Page 295, line 35 [Clause 620], after ‘Chapter’, insert ‘or Chapter 5 of this Part’.


Mr Secretary Darling

627

Page 296, line 6 [Clause 620], after ‘Chapter’ insert ‘or Chapter 5’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

39

Page 296, line 6 [Clause 620], after ‘Chapter’ insert ‘or Chapter 5 of this Part’.

Mr Secretary Darling

628

Page 296, line 23 [Clause 620], after ‘Chapter’ insert ‘or Chapter 5’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

40

Page 296, line 23 [Clause 620], after ‘Chapter’ insert ‘or Chapter 5 of this Part’.


Mr Secretary Darling

629

Page 297, line 8 [Clause 622], after ‘Chapter’ insert ‘or Chapter 5’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

41

Page 297, line 8 [Clause 622], at end insert ‘or Chapter 5 of this Part’.


Mr Secretary Darling

630

Page 299, line 14 [Clause 627], after ‘secured’ insert ‘at least’.

Mr Secretary Darling

631

Page 299, line 17 [Clause 627], after ‘has’ insert ‘secured at least’.

Mr Alan Duncan
Mr Jonathan Djanogly
Charles Hendry
Mr Crispin Blunt
James Brokenshire
Justine Greening

42

Page 299, line 19 [Clause 627], after ‘B’ insert ‘(whether all or any of those shares were acquired in pursuance of that arrangement or not)’.

Mr Secretary Darling

632

Page 299, line 29 [Clause 627], after ‘having’ insert ‘secured at least’.


Mr Secretary Darling

649

Page 301, line 45 [Clause 632], leave out ‘an ordinary’ and insert ‘a’.


Mr Secretary Darling

650

Page 303, line 26 [Clause 636], leave out ‘ordinary’.


Mr Secretary Darling

700

Page 304, line 7 [Clause 636], at end insert—

      ‘(8) Chapter 3 of Part 3 (resolutions affecting a company’s constitution) applies to a resolution under this section.’.


 
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Prepared: 19 October 2006