Clause 22
Company Law Reform Bill [Lords]
12:45 pm
Margaret Hodge (Minister of State (Industry and the Regions), Department of Trade and Industry; Barking, Labour)
That is nonsense, if I may say so. It is always open to any party to change company law. Through the facilities that we propose, we are trying to provide some certainty for the operation of companies.
The hon. Gentleman has banged on and on and on about shareholder democracy. If we do nothing, however, the special resolution provisions will be the only ones that determine how changes can take place and they will be a challenge for minority shareholders—the 25 per cent. who will not be needed.