§ Mr. Stephen O'BrienTo ask the Secretary of State for Trade and Industry what assessment she has made of the impact that the 10th Company Law Directive on cross-border mergers will have on management of United Kingdom companies. [146148]
§ Mr. SutcliffeThe Commission proposal for a 10th Company Law Directive on cross-border mergers was published on 18 November 2003. My officials met City and business representatives and had other informal contacts with interested parties during December in order to assess the likely impact of the Directive on UK companies, including as regards their management.
On the basis of these discussions, and internal departmental consideration, an initial Regulatory Impact Assessment on the anticipated costs and benefits of the Commission proposal was prepared alongside the Explanatory Memorandum (153305/03) submitted to the Parliamentary Scrutiny Committees on 15 December 2003 and is available in the Libraries of both Houses.