§ [Nos. 67–71]
§ Clause 26, page 23, line 19, leave out ("seven") and insert ("fourteen")
§ Clause 26, page 23, line 22, leave out ("seven") and insert ("fourteen")
§ Clause 26, page 23, line 30, leave out ("seven") and insert ("fourteen")
§ Clause 26, page 23, line 32, leave out ("seven") and insert ("fourteen")
§ Clause 26, page 25, line 16, leave out ("seven") and insert ("fourteen")
§ LORD WALSTONMy Lords, with your Lordships' permission I should like to speak to Amendments Nos. 67, 68, 69, 70, 71, 84, 85, 86, 87, 88, 89 and 90 at the same time, and to move Amendments Nos. 67 to 71 inclusive. In spite of the number of Amendments that there are here, this is a very simple and, I think, worthwhile change. Under Clause 26 directors are required to notify their company within seven days of an interest in shares or debentures, or of the occurrence of an event related to such an interest, while Clause 29 requires a person interested in 10 per cent. or more of the voting shares of a quoted company to notify the company, also within seven days, of an interest in the shares or the occurrence of an event related to such an interest. These Amendments lengthen the time which is allowed from seven to fourteen days. I beg to move that the House doth agree with the Commons in the said Amendments.
§ Moved, That this House doth agree with the Commons in the said Amendments.—(Lord Walston.)
§ On Question, Motion agreed to.