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Clause 4

Volume 978: debated on Monday 11 February 1980

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FINANCIAL STRUCTURE OF THE SUCCESSOR COMPANY AND ITS SUBSIDIARIES

I beg to move amendment No. 19, in page 4, line 3, leave out 'issued' and insert 'allotted'.

This amendment represents no change of policy but merely reflects a technical amendment intended to be made to the Companies Bill. The principle was, I think, well understood and established in Committee when it was made clear that, where the provisions of the Companies Bill before the House were relevant to our own proceedings, we should seek on Report to tidy up matters.

I understand that it is intended to make clear in the Companies Bill that bonus shares need be only allotted to members. That is why we seek to bring matters into line by the present amendment, which I commend to the House.

Amendment agreed to.

Amendment made: No. 20 in page 4, line 40, after '2( b)', insert 'and ( c)'.—[ Mr. Michael Marshall.]