New Clause 206

Company Law Reform Bill [Lords] – in a Public Bill Committee at 1:45 pm on 20th July 2006.

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Copy of contract or memorandum to be available for inspection

‘(1) This section applies where a company has entered into—

(a) a contract approved under section (Authority for off-market purchase) (authorisation of contract for off-market purchase), or

(b) a contract for a purchase authorised under section (Authority for market purchase) (authorisation of market purchase).

(2) The company must keep available for inspection at its registered office—

(a) a copy of the contract, or

(b) if the contract is not in writing, a written memorandum setting out its terms.

(3) The copy or memorandum must be kept available for inspection from the conclusion of the contract until the end of the period of ten years beginning with—

(a) the date on which the purchase of all the shares in pursuance of the contract is completed or,

(b) the date on which the contract otherwise determines.

(4) Every copy or memorandum required to be kept under this section must be kept open to inspection without charge—

(a) by any member of the company, and

(b) in the case of a public company, by any other person.

(5) The provisions of this section apply to a variation of a contract as they apply to the original contract.’.—[Margaret Hodge.]

Brought up, and added to the Bill.