House of Commons portcullis
House of Commons
Session 2005 - 06
Internet Publications
Other Bills before Parliament


 
 

Report Stage Proceedings: 17th October 2006              

876

 

Companies Bill[ [], continued

 
 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Justine Greening

 

Not called  414

 

Page  121,  line  25  [Clause  260],   leave out subsection (4).

 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Justine Greening

 

Negatived on division  415

 

Page  121,  line  33  [Clause  260],   at end insert—

 

‘(6)    

A derivative claim under this Chapter may only be brought if the directors have

 

been requested by a member of the company to bring a claim in respect of an act

 

or omission specified in subsection (3) and have not agreed to the request after

 

the expiry of a reasonable period from service of the request.’.

 


 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Justine Greening

 

Not called  416

 

Page  123,  line  8  [Clause  263],   at end insert ‘, or

 

‘(d)    

that the directors have decided not to pursue the claim, unless the court

 

considers that there is a substantial risk that in reaching their decision

 

they acted in breach of their duties to the company, or

 

(e)    

that the claim is one which the company in general meeting could validly

 

decide not to pursue, unless the court considers that there is a substantial

 

risk that a decision not to pursue the claim would only be taken as a result

 

of votes cast by members with a personal interest, direct or indirect, in the

 

decision, or

 

(f)    

that pursuing the claim would not be in the interests of the company.’.

 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Justine Greening

 

Not called  417

 

Page  123,  line  8  [Clause  263],   at end insert ‘, or

 

‘(d)    

that the directors have decided not to pursue the claim, unless the court

 

considers that there is a substantial risk that that transaction constitutes a

 

fraud on the minority of members of the company, or


 
 

Report Stage Proceedings: 17th October 2006              

877

 

Companies Bill[ [], continued

 
 

(e)    

that the claim is one which the company in general meeting could validly

 

decide not to pursue, unless the court considers that there is a substantial

 

risk that a decision not to pursue the claim would only be taken due to the

 

majority of the shares being in control of those with a direct or indirect

 

interest in the transaction.’.

 


 

Mr Secretary Darling

 

Agreed to  171

 

Page  125,  line  4  [Clause  265],  leave out ‘461(2)(c) of the Companies Act 1985

 

(c.  6)’ and insert ‘963(2)(c)’.


 
previous section contents
 
House of Commons home page Houses of Parliament home page House of Lords home page search page enquiries

© Parliamentary copyright 2006
Revised 18 October 2006