Clause 188

Company Law Reform Bill [Lords] – in a Public Bill Committee at 7:15 pm on 11th July 2006.

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Exception for expenditure on company business

Question proposed, That the clause stand part of the Bill.

Photo of Jonathan Djanogly Jonathan Djanogly Shadow Minister (Business, Innovation and Skills), Shadow Solicitor General, Shadow Minister (Justice)

Section 337(2) of the Companies Act 1985 is amended by this clause so that the relevant amount that does not require shareholder approval is raised from £20,000 to £50,000. How was the new figure derived?

Photo of Margaret Hodge Margaret Hodge Minister of State (Industry and the Regions)

I will have to write to the hon. Gentleman.

Question put and agreed to.

Clause 188 ordered to stand part of the Bill.

Clauses 189 and 190 ordered to stand part of the Bill.