HL Deb 27 March 1980 vol 407 cc1158-9

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—

  1. (a) on the appointed day held the office of secretary or assistant or deputy secretary of the company; or
  2. (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
  3. (c) is a member of any of the bodies specified in subsection (2) below; or
  4. (d) is a barrister, advocate or solicitor called or admitted in any part of the United Kingdom; or
  5. (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:—

  1. (a) the Institute of Chartered Accountants in England and Wales;
  2. (b) the Institute of Chartered Accountants of Scotland;
  3. (c) the Association of Certified Accountants;
  4. (d) the Institute of Chartered Accountants in Ireland;
  5. (e) the Institute of Chartered Secretaries and Administrators;
  6. (f) the Institute of Cost and Management Accountants;
  7. (g) the Chartered Institute of Public Finance and Accountancy."


My 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.)