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Criminal Penalties For Breach Of S 49

Volume 980: debated on Monday 3 March 1980

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I beg to move amendment No. 256, in page 64, line 38, leave out 'wilfully'.

With this it will be convenient to take Government amendments Nos. 257, 258, 259, 294, 295 and 296.

This group of amendments gives effect to our review of the wording of clause 53, which imposes criminal sanctions on directors, companies and others in respect of transactions prohibited under clause 49. We undertook to carry out this review following the helpful points made by my right hon. Friend the Member for Crosby (Sir G. Page) on the drafting of the clause. It is in response to his representations that these changes are being made.

Amendment agreed to.

Amendments made:

No. 257, in page 64, line 40, leave out 'in contravention of' and insert

'knowing or having reasonable cause to believe that the company was thereby contravening'

No. 258, in page 65, line 1, leave out 'knowingly'.

No. 259, in page 65, line 2, leave out 'in contravention of' and insert

'knowing or having reasonable cause to believe that the company was thereby contravening '

No. 294, in page 65, line 4, leave out 'person' and insert 'relevant company'.

No. 295, in page 65, line 5, leave out 'he' and insert 'it'.

No. 296, in page 65, line 6, leave out 'he' and insert 'it'.—[ Mr. Newton.]