HL Deb 27 October 1981 vol 424 cc1037-8

162 Clause 69, page 72, line 23, leave out ("issued more than one class of") and insert ("more than one class of issued").

163 Clause 70, page 73, line 23, leave out ("more than one class of members") and insert ("any class of members with such rights as are mentioned in subsection (1) above,").

164 Clause 70, page 73, line 26, leave out ("each") and insert ("any such").

Lord Mackay of Clashfern

My Lords, I beg to move that this House doth agree with the Commons in their amendments. Clauses 69 and 70 require the disclosure by registration of additional information concerning classes of shares and members. Clause 69 requires the identification on share registers of the class of shares or membership. Clause 70 requires companies without a share capital to disclose information about rights attaching to different classes of membership. Amendment No. 162 to Clause 69 makes it clear that the new requirement to show a members' class does not apply if there is only one class in issue, which seems a highly sensible proposal. Amendments Nos. 163 and 164 ensure that the new requirements on companies without a share capital do not apply where the information is already stated in the memorandum and articles in order to avoid duplication. I beg to move.

Moved, That this House doth agree with the Commons in the said amendments.—(Lord Mackay of Clashfern.)

On Question, Motion agreed to.