Clause 121
Company Law Reform Bill [Lords]
12:15 pm
Jonathan Djanogly (Shadow Solicitor General (Also Shadow Minister for Trade and Industry), Law Officers (Assist the Home Affairs Team); Huntingdon, Conservative)
The clause relates to section 355 of the Companies Act 1985. Clause 121(1) removes the requirement of section 355(1) of the 1985 Act whereby the company must strike from the register the name of members who have been issued with a share warrant. The explanatory note says that the effect of the change to section 355 is to the effect of the change to section 355 is to make it clear that shares need not first be issued in registered form, but can be issued directly in warrant to bearer form. If there is no register, would not the original requirement still be relevant?
Margaret Hodge (Minister of State (Industry and the Regions), Department of Trade and Industry; Barking, Labour)
The hon. Gentleman has got me there. I will write to him with an explanation as soon as possible.