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Substantial Contracts, Etc, With Directors And Others To Be Disclosed In Accounts

Volume 980: debated on Monday 3 March 1980

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8.15 pm

I beg to move amendment No. 252. in page 66, line 10, leave out '(b)'.

The amendment extends the scope of clause 54(3) to all cases where a holding company does not produce group accounts. It is a technical amendment that corrects an oversight in the drafting of the clause.

Amendment agreed to.

I beg to move amendment No. 298, in page 66, line 16, leave out 'arrangement or agreement' and insert 'or arrangement'.

With this it will be convenient to take Government amendments Nos. 299, 300, and 301.

This is a group of drafting amendments that will clear up anomalies and inconsistencies in the clause as it stands, regarding the use of the words "arrangement" and "agreement" in subsections (4) and (6). The terms used in those subsections, as amended, will be consistent with the use of the terms in subsections (1) and (2).

Amendment agreed to.

Amendments made:

No. 299, in page 66, line 22, leave out 'arrangement or agreement' and insert 'or arrangement'.

No. 300, in page 66, line 36, leave out 'and arrangements' and insert ', arrangements and agreements'.

No. 301, in page 66, line 37, leave out first 'or'.

No. 302, in page 66, line 42, after 'directors', insert

'or a director of its holding company'.—[Mr. Parkinson.]