§ Lord Wedderburn of Charltonasked Her Majesty's Government:
Whether they intend to legislate on the duties of skill and care of the directors of public companies; and, if so, whether Parliament will be afforded the opportunity to debate and amend the proposals which the Government intend to make. [HL660]
§ The Parliamentary Under-Secretary of State, Department of Trade and Industry (Lord Sainsbury of Turville)The Government remain firmly committed to major company law reform building on the recommendations of the Company Law Review. Such reform will include statutory principles by which directors are bound, including on care, skill and diligence.
The Government have made it clear that they want the process of company law reform to he fully consultative. We welcomed the scrutiny by the Trade and Industry Committee of our proposals in the last Session, and intend to publish a draft of a Bill for comment.