Clause 450

Company Law Reform Bill [Lords] – in a Public Bill Committee at 3:54 pm on 13th July 2006.

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companies qualifying as medium-sized: parent companies

Amendment made: No. 451, in clause 450, page 214, line 4, leave out subsections (2) and (3) and insert—

‘(2) A group qualifies as medium-sized in relation to the parent company’s first financial year if the qualifying conditions are met in that year.

(3) A group qualifies as medium-sized in relation to a subsequent financial year of the parent company—

(a) if the qualifying conditions are met in that year and the preceding financial year;

(b) if the qualifying conditions are met in that year and the group qualified as medium-sized in relation to the preceding financial year;

(c) if the qualifying conditions were met in the preceding financial year and the group qualified as medium-sized in relation to that year.’.—[Margaret Hodge.]

Clause 450, as amended, ordered to stand part of the Bill.

Clauses 451 and 452 ordered to stand part of the Bill.