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Clause 22

Volume 982: debated on Tuesday 15 April 1980

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Payment For Allotted Shares

The Lords have agreed to the amendment made by the Commons in page 28, line 27, leave out subsection (3) and insert:

"(3) Subsection (2) above shall not apply in relation to the allotment of a bonus share in contravention of subsection (1) above unless the allottee knew or ought to have known the share was so allotted."
and have made the following consequential amendment to the Bill:

No. 1, in page 28, line 13, leave out "subsections (3) and" and insert "subsection".

10.39 pm

I beg to move, That this House doth agree with the Lords in the said amendment.

The amendment deletes the reference to subsection (3) of clause 22(1). It is simply consequential on the changes made to subsection (3) of the clause by Commons amendment No. 89.

Question put and agreed to.