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Report Stage Proceedings: 19th October 2006              

1006

 

Companies Bill[ [], continued

 
 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Justine Greening

 

Not called  80

 

Page  367  [Clause  781],  leave out line 43.

 


 

Mr Secretary Darling

 

Agreed to  230

 

Page  368,  line  30  [Clause  784],  leave out subsection (2).

 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Justine Greening

 

Not selected  81

 

Page  368,  line  37  [Clause  785],  at beginning insert ‘However’.

 


 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Justine Greening

 

Not called  82

 

Page  373,  line  37  [Clause  796],  leave out subsection (a) and insert—

 

‘(a)    

enabling a company or any designated class of companies to adopt

 

arrangements under which title to securities is permitted or required to be

 

evidenced or transferred, or both, without a written instrument; or’.

 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Justine Greening

 

Not called  83

 

Page  373,  line  38  [Clause  796],  leave out ‘, by ordinary resolution,’.

 

Mr Secretary Darling

 

Agreed to  738

 

Page  373,  line  39  [Clause  796],  leave out ‘and transferred’ and insert ‘or

 

transferred (or both)’.


 
 

Report Stage Proceedings: 19th October 2006              

1007

 

Companies Bill[ [], continued

 
 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Justine Greening

 

Not called  356

 

Page  373,  line  39  [Clause  796],  leave out ‘required to be evidenced and

 

transferred’ and insert ‘permitted or required to be evidenced or transferred or both’.

 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Justine Greening

 

Not called  84

 

Page  373,  line  41  [Clause  796],  at beginning insert ‘permitting or’.

 


 

Mr Secretary Darling

 

Agreed to  739

 

Page  374,  line  5  [Clause  796],  leave out from ‘(1)’ to end of line 9 and insert ‘—

 

(a)    

must not be such that a person who but for the arrangements would be

 

entitled to have his name entered in the company’s register of members

 

ceases to be so entitled, and

 

(b)    

must be such that a person who but for the arrangements would be

 

entitled to exercise any rights in respect of the securities continues to be

 

able effectively to control the exercise of those rights.’.

 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Justine Greening

 

Not called  85

 

Page  374,  line  8  [Clause  796],  leave out ‘give instructions’ and insert ‘exercise his

 

rights’.

 


 

Mr Secretary Darling

 

Agreed to  454

 

Page  376,  line  32  [Clause  803],  leave out from ‘to’ to end of line 33 and insert

 

‘restrictions.

 

    

For the effect of such an order see section (Consequences of order imposing

 

restrictions).’.


 
 

Report Stage Proceedings: 19th October 2006              

1008

 

Companies Bill[ [], continued

 
 

Mr Secretary Darling

 

Agreed to  455

 

Page  376,  line  41  [Clause  803],  at end insert—

 

‘( )    

Sections (Penalty for attempted evasion of restrictions) to (Further provisions on

 

sale by court order of restricted shares) make further provision about orders

 

under this section.’.

 


 

Mr Secretary Darling

 

Agreed to  282

 

Page  378,  line  20  [Clause  808],  leave out ‘at the company’s registered office’ and

 

insert ‘for inspection’.

 

Mr Secretary Darling

 

Agreed to  283

 

Page  378,  line  32  [Clause  808],  leave out ‘at the company’s registered office’ and

 

insert ‘for inspection’.

 

Mr Secretary Darling

 

Agreed to  284

 

Page  378,  line  34  [Clause  808],  at end insert—

 

‘(3A)    

The reports must be retained by the company for at least six years from the date

 

on which they are first made available for inspection and must be kept available

 

for inspection during that time—

 

(a)    

at the company’s registered office; or

 

(b)    

at a place specified in regulations under section (Regulations about

 

where certain company records to be kept available for inspection).’.

 

Mr Secretary Darling

 

Agreed to  285

 

Page  378,  line  34  [Clause  808],  at end insert—

 

‘(3B)    

The company must give notice to the registrar—

 

(a)    

of the place at which the reports are kept available for inspection, and

 

(b)    

of any change in that place,

 

    

unless they have at all times been kept at the company’s registered office.’.

 

Mr Secretary Darling

 

Agreed to  286

 

Page  378,  line  36  [Clause  808],  leave out ‘at its registered office’ and insert ‘for

 

inspection’.

 

Mr Secretary Darling

 

Agreed to  287

 

Page  378,  line  37  [Clause  808],  leave out ‘that’ and insert ‘where’.

 



 
 

Report Stage Proceedings: 19th October 2006              

1009

 

Companies Bill[ [], continued

 
 

Mr Secretary Darling

 

Agreed to  288

 

Page  379,  line  1  [Clause  808],  leave out subsection (6).

 

Mr Secretary Darling

 

Agreed to  289

 

Page  379,  line  4  [Clause  809],  at beginning insert—

 

‘(A1)    

If default is made for 14 days in complying with section 808(3B) (notice to

 

registrar of place at which reports made available for inspection) an offence is

 

committed by—

 

(a)    

the company, and

 

(b)    

every officer of the company who is in default.

 

(B1)    

A person guilty of an offence under subsection (A1) is liable on summary

 

conviction to a fine not exceeding level 3 on the standard scale and, for continued

 

contravention, a daily default fine not exceeding one-tenth of level 3 on the

 

standard scale.’.

 

Mr Secretary Darling

 

Agreed to  290

 

Page  379,  line  4  [Clause  809],  after ‘with’ insert ‘any other provision of’.

 

Mr Secretary Darling

 

Agreed to  291

 

Page  379,  line  7  [Clause  809],  leave out ‘this section’ and insert ‘subsection (1)’.

 


 

Mr Secretary Darling

 

Agreed to  292

 

Page  380,  line  15  [Clause  812],  leave out from ‘office’ to end of line 16 and insert

 

‘, or

 

‘(b)    

at a place specified in regulations under section (Regulations about

 

where certain company records to be kept available for inspection).’.

 

Mr Secretary Darling

 

Agreed to  217

 

Page  380,  line  27  [Clause  812],  leave out ‘in the case of continued contravention

 

to’ and insert ‘, for continued contravention,’.

 


 

Mr Secretary Darling

 

Agreed to  218

 

Page  381,  line  2  [Clause  813],  leave out ‘in the case of continued contravention to’

 

and insert ‘, for continued contravention,’.

 



 
 

Report Stage Proceedings: 19th October 2006              

1010

 

Companies Bill[ [], continued

 
 

Mr Secretary Darling

 

Agreed to  219

 

Page  384,  line  15  [Clause  822],  leave out ‘in the case of continued contravention

 

to’ and insert ‘, for continued contravention,’.

 


 

Mr Secretary Darling

 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Agreed to  86

 

Page  388,  line  22  [Clause  832],  leave out ‘paying off’ and insert ‘repaying’.

 

Mr Secretary Darling

 

Agreed to  232

 

Page  388,  line  25  [Clause  832],  leave ‘or 4’ and insert ‘, 4 or 5’.

 


 

Mr Secretary Darling

 

Agreed to  308

 

Page  389,  line  41  [Clause  835],  after ‘liabilities’ insert ‘to creditors’.

 


 

Mr Secretary Darling

 

Agreed to  309

 

Page  390,  line  1  [Clause  835],  after ‘liabilities’ insert ‘to creditors’.

 

Mr Secretary Darling

 

Agreed to  310

 

Page  390,  line  4  [Clause  835],  leave out ‘of any kind’ and insert ‘for liabilities to

 

creditors’.

 


 

Mr Secretary Darling

 

Agreed to  657

 

Page  391,  line  2  [Clause  836],  leave out ‘of association’.


 
 

Report Stage Proceedings: 19th October 2006              

1011

 

Companies Bill[ [], continued

 
 

Mr Secretary Darling

 

Agreed to  658

 

Page  391,  line  35  [Clause  837],  after ‘15%’ insert ‘by value’.

 


 

Mr Secretary Darling

 

Agreed to  659

 

Page  392,  line  28  [Clause  839],  leave out from ‘Part’ to ‘is’.

 


 

Mr Secretary Darling

 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Agreed to  87

 

Page  393,  line  26  [Clause  840],  leave out ‘their’ and insert ‘his’.

 


 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Justine Greening

 

Not called  88

 

Page  395,  line  24  [Clause  843],  at end insert—

 

‘(e)    

financial assistance given by a private company which is not out of its

 

distributable profits.’.

 


 

Mr Secretary Darling

 

Agreed to  660

 

Page  396,  line  14  [Clause  844],  at end insert—

 

‘( )    

For the purpose of subsections (2) and (3) any consideration by the directors of

 

the value at a particular time of a fixed asset is treated as a revaluation provided—

 

(a)    

the directors are satisfied that the aggregate value at that time of the fixed

 

assets of the company that have not actually been revalued is not less than

 

the aggregate amount at which they are then stated in the company’s

 

accounts, and

 

(b)    

it is stated in a note to the accounts—

 

(i)    

that the directors have considered the value of some or all of the

 

fixed assets of the company without actually revaluing them,


 
 

Report Stage Proceedings: 19th October 2006              

1012

 

Companies Bill[ [], continued

 
 

(ii)    

that they are satisfied that the aggregate value of those assets at

 

the time of their consideration was not less than the aggregate

 

amount at which they were then stated in the company’s

 

accounts, and

 

(iii)    

that accordingly, by virtue of this subsection, amounts are stated

 

in the accounts on the basis that a revaluation of fixed assets of

 

the company is treated as having taken place at that time.’.

 

Mr Secretary Darling

 

Agreed to  661

 

Page  396,  line  24  [Clause  844],  leave out subsections (5) and (6).

 


 

Mr Secretary Darling

 

Agreed to  662

 

Page  398,  line  2  [Clause  847],  after ‘shown’ insert ‘or included’.

 

Mr Secretary Darling

 

Agreed to  663

 

Page  398,  line  3  [Clause  847],  after ‘shown’ insert ‘or included’.

 

Mr Secretary Darling

 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Agreed to  89

 

Page  398,  line  35  [Clause  848],  leave out ‘disposal’ and insert ‘disposition’.

 

Mr Secretary Darling

 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Agreed to  90

 

Page  398,  line  37  [Clause  848],  leave out ‘disposal’ and insert ‘disposition’.

 

Mr Secretary Darling

 

Mr Alan Duncan

 

Mr Jonathan Djanogly

 

Charles Hendry

 

Mr Crispin Blunt

 

James Brokenshire

 

Agreed to  91

 

Page  398,  line  38  [Clause  848],  at beginning insert ‘For the purposes of subsection

 

(1)(a)’.

 



 
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