Clause 13
Company Law Reform Bill [Lords]
11:15 am
Margaret Hodge (Minister of State (Industry and the Regions), Department of Trade and Industry; Barking, Labour)
Yes.
The hon. Gentleman then raised the issue of fraud. Clearly it is a problem that we all constantly have to grapple with, but I am not convinced that the hon. Gentleman’s answer will really help. The registrar’s rules will enable provision to be made for authentication, and we may, for example, be moving towards a unique identifier. Breaches will continue to be a serious matter, but there are various clauses in the Bill to deal with the issue. Making a false statutory declaration would be a matter for the law of perjury, while making a false electronic statement would be an offence. Under clause 764, a false statement of compliance will become a false statement, and the clause sets out the penalties on conviction, including fines and custodial sentences. Although the hon. Gentleman is right to allude to a problem, therefore, I am not sure that the answer lies in maintaining the statutory declaration.