Clause 642

Part of Company Law Reform Bill [Lords] – in a Public Bill Committee at 12:00 pm on 18 July 2006.

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Photo of James Brokenshire James Brokenshire Conservative, Hornchurch 12:00, 18 July 2006

My hon. Friend is making an interesting point. His example highlights the stakes that are likely to be at risk in relation to panel decisions, and the fact that bidders are prevented from exercising rights to exit from certain deals. Does he believe that, although there is a feeling that judicial review actions will not be encouraged as a result of the statutory basis, examples of this nature and the change in the way in which the panel is constructed—and the rules that it  must apply as a result of the takeover directive—mean that there is a risk, given the stakes involved, that there will be an increase in legal challenges, with the implications that that might have?