HC Deb 20 October 1981 vol 10 cc217-8
Mr. Eyre

I beg to move amendment No. 38, in page 49, line 26, leave out within the week immediately following' and insert 'on'.

Mr. Deputy Speaker (Mr. Bernard Weatherill)

With this it will be convenient to take Government amendment No. 39.

Mr. Eyre

These amendments make clear that the special resolution authorising the giving of financial assistance may be passed on the same day as the directors make the statutory declaration or within the week immediately following that day.

Amendment agreed to.

Amendment made: No. 39, in page 49, line 29, at end add

'or within the week immediately following that date.'.—[Mr. Eyre.]
Mr. Eyre

I beg to move amendment No. 40, in page 50, line 19, after 'is', insert 'required to be'.

This amendment changes subsection (5)(b) of clause 42 to make it clear that it applies only where no special resolution authorising financial assistance is required to be passed because the company is a wholly owned subsidiary.

Amendment agreed to.

Amendment made: No. 41, in page 50, leave out lines 36 to 38 and insert—

'(8) In section 41 of this Act, "financial assistance" and "net assets" have the meaning given by subsections (6) and (7) of section 40 of this Act respectively.'.—[Mr. Eyre.]
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