§ Mr. AllenTo ask the Secretary of State for Trade and Industry what European Community proposals exist for two-tier boards for limited companies; and if he will make a statement.
§ Mr. RedwoodThe draft fifth directive on company law contains proposals for the harmonisation of laws relating to the structure of the boards of public companies. It would enable national legislation to prescribe the use of a one-tier or a two-tier board system, or to provide for both. The proposal for a European company statute contains provisions that would enable a European company to choose between the two structures.