New clause 6
Company Law Reform Bill [Lords]
1:45 pm
Overseas branch registers
‘(1) A company having a share capital may, if it transacts business in a country or territory to which this Chapter applies, cause to be kept there a branch register of members resident there (an “overseas branch register”).
(2) This Chapter applies to—
(a) any part of Her Majesty’s dominions outside the United Kingdom, the Channel Islands and the Isle of Man, and
(b) the countries or territories listed below.
Bangladesh
Malaysia
Cyprus
Malta
Dominica
Nigeria
The Gambia
Pakistan
Ghana
Seychelles
Guyana
Sierra Leone
The Hong Kong Special Administrative Region of the People’s Republic of China
Singapore
India
South Africa
Ireland
Sri Lanka
Kenya
Swaziland
Kiribati
Trinidad and Tobago
Lesotho
Uganda
Malawi
Zimbabwe
(3) The Secretary of State may make provision by regulations as to the circumstances in which a company is to be regarded as keeping a register in a particular country or territory.
(4) Regulations under this section are subject to negative resolution procedure.
(5) References—
(a) in any Act or instrument (including, in particular, a company’s articles) to a dominion register, or
(b) in articles registered before 1st November 1929 to a colonial register,
are to be read (unless the context otherwise requires) as a reference to an overseas branch register kept under this section.’.—[Margaret Hodge.]