§ 231 After Clause 50 insert the following new clause:
§ "Qualifications of company secretaries.
§ It shall be the duty of the directors of a public company to take all reasonable steps to secure that the secretary or each joint secretary of the company is a person who appears to them to have the requisite knowledge and experience to discharge the functions of secretary of the company and who— 1159
- (a) on the appointed day held the office of secretary or assistant or deputy secretary of the company; or
- (b) for at least three years of the five years immediately preceding his appointment as secretary held the office of secretary of a company other than a private company; or
- (c) is a member of any of the bodies specified in subsection (2) below; or
- (d) is a barrister, advocate or solicitor called or admitted in any part of the United Kingdom; or
- (e) is a person who, by virtue of his holding or having held any other position or his being a member of any other body, appears to the directors to be capable of discharging those functions.
§ (2) The bodies referred to in subsection (1)(c) above are:—
- (a) the Institute of Chartered Accountants in England and Wales;
- (b) the Institute of Chartered Accountants of Scotland;
- (c) the Association of Certified Accountants;
- (d) the Institute of Chartered Accountants in Ireland;
- (e) the Institute of Chartered Secretaries and Administrators;
- (f) the Institute of Cost and Management Accountants;
- (g) the Chartered Institute of Public Finance and Accountancy."
§ Lord MACKAY of CLASHFERNMy Lords, this clause was moved into the Bill in another place, and provides some indication of the manner in which a company secretary should be appointed. There are some amendments to this amendment, and perhaps I can reserve what I have to say until we hear what is said on those amendments. I beg to move that this House doth agree with the Commons in their Amendment No. 231.
§ Moved, That this House doth agree with the Commons in the said amendment. (Lord Mackay of Clashfcrn.)