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European Commission: Voting

Volume 684: debated on Tuesday 25 July 2006

asked Her Majesty’s Government:

What is their response to the European Commission’s draft directive published on 10 January, which is intended to encourage cross-border shareholder involvement by increasing safeguards on voting rights and facilitating voting. [HL7159]

The Government support the Commission’s proposal for a directive on shareholder rights, which is currently before the Council and Parliament.

The Government believe that the proposal should be framed in a way that facilitates the exercise of voting rights across borders while offering practical solutions that do not impose unnecessary burdens on shareholders, companies and those who act for them.