Clause 67
Company Law Reform Bill [Lords]
1:15 pm
Jonathan Djanogly (Shadow Solicitor General (Also Shadow Minister for Trade and Industry), Law Officers (Assist the Home Affairs Team); Huntingdon, Conservative)
My hon. Friend makes a persuasive argument. The Minister spoke about the ability to set up another company and name swap, which is used daily throughout the country. Thousands of companies, if not tens of thousands, exist simply because of a name swap. That distorts the picture of how many companies we have and for what purpose they exist, but it is also a huge waste of resource, and indeed civil service resource, to wind such things up when they are not needed.