Clause 10
Company Law Reform Bill [Lords]
10:30 am
Jonathan Djanogly (Shadow Solicitor General (Also Shadow Minister for Trade and Industry), Law Officers (Assist the Home Affairs Team); Huntingdon, Conservative)
I agree with the Minister. On an ongoing basis, it would be very onerous for most companies to have to refile their articles every time they changed their share capital, although manylarge companies do exactly that. However, I thought that we were discussing the statement of initial shareholdings—the shareholdings that the company is incorporated with—rather than the position on an ongoing basis. I appreciate that there might have to be a form on an ongoing basis, but that should not have to be the case on day one.