§ 45. Mr. Nicholas Bakerasked the Minister for Trade why it has been decided that the Companies Acts should be consolidated rather than codified.
§ Dr. VaughanConsolidation of the Companies Acts was made imperative by the passage of the Companies Acts 1980 and 1981. Codification—the statement in statutory form of the principles derived from case law—would require extensive prior study and consultation, and, if found to be practicable, involve further substantive legislation and take many years to accomplish. The Government are not aware of any widespread demand for company law to be codified.