§ Mr. Jay
I beg to move Amendment No. 221, in page 50, line 9, at the beginning to insert:(1) Notwithstanding anything in subsection (2) of section 63 of the principal Act, no company need forward to the registrar of companies a printed copy of a resolution authorising an increase of its share capital, if instead it forwards a copy in some other form approved by the registrar.This is a concession to meet arguments put forward in Committee. The Clause as originally drafted would have permitted the copy of a special or extraordinary resolution forwarded by a company to the Registrar to be in a form other than printed if that other form is approved by the Registrar. This would leave an ordinary resolution for an increase in capital as the only kind of resolution of which a printed copy must be forwarded.
An Amendment to extend the Clause to these resolutions was negatived in Committee. We have further considered the matter, as we always do, in deference to the views expressed. In this case we 2380 agree that the Clause should be extended in the way proposed.
§ Mr. Michael Shaw
I thank the right hon. Gentleman for this Amendment. I assure him that this matter has caused very great practical irritation in offices. Certainly all young clerks, when they first started dealing with these matters, were liable to fall into the trap of sending, in the case of an exempt private company, a typed resolution to the Registrar.
If they had the makings of a good accountant it was the last time that they did it. It was one of those things which probably slipped through in the 1948 Act and I am glad that it has been put right.
§ Amendment agreed to.