§ Linda PerhamTo ask the Secretary of State for Trade and Industry when she will publish a consultation paper on the reform of company law. [67660]
§ Miss Melanie JohnsonOur current company law is creaking with age. My right hon. Friend the Secretary of State for Trade and Industry is today publishing plans to modernise and reform it for the 21st century. Company law is central to our economy and our prosperity. A thorough overhaul is needed to make the law clearer and accessible.
169WThe White Paper reflects the changes that have taken place in the business environment in recent years, particularly the growth of small businesses and advances in communications technology, and include plans to:
Simplify the law and reduce burdens on small firms;Improve transparency to increase confidence in business;Improve governance to encourage and support responsible business.