§ Mr. MackinlayTo ask the Secretary of State for Trade and Industry what assessment he has made of the need to amend company law to provide for the validity of meetings and their subsequent decisions conducted by tele-conferencing and related technology. [87135]
§ Mr. Ian McCartneyThe DTI's view is that the general law already provides for general meetings of shareholders to be held in more than one physical site, provided that these are appropriately linked. Subject to the company's Articles, meetings of directors may be conducted in a medium the directors think fit, for example, by telephone or by video conference.
In March 1998, the DTI launched a fundamental review of company law which is being taken forward by an independent Steering Group. The Steering Group is considering all wider policy issues surrounding the role and place of the general meeting of shareholders and the mechanisms for company decision making, including the implications of modern technologies for statutory rules for meetings.