HC Deb 19 July 1967 vol 750 cc2295-6

Amendment made: No. 166, in page 16, line 38, leave out 'except section 18'.—[Mr. Jay.]

11.30 p.m.

Mr. Jay

I beg to move Amendment No. 167, in page 17, line 6, to leave out from 'body' to 'to' in line 7 and to insert: (4) An interest in shares or debentures which, under the provisions of this Part of this Act referred to in paragraph (e) of subsection (1) above, falls to be treated as being the interest of a director shall be so treated for the purposes of that paragraph, and the references in that paragraph. The Amendment relates to a slightly different point. Its purpose is to ensure that an interest in shares or debentures of a spouse or child which, by Clause 31, is treated as an interest of a director for the purpose of Clause 27 is so treated for the purpose of this requirement to give information about directors' share interests in the directors' report. In effect, this also is consequential on the basic decision we took that the interests of spouses and children should also be included.

Mr. Michael Shaw

I agree that the Amendment is largely consequential. An interesting point here is that it is the shareholdings at the beginning of the year and at the end of the year which have to be disclosed, although it is more than conceivable that in certain cases there will be a considerable movement in shares during the year which is of material interest to those who are looking for these things.

Amendment agreed to.