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Company Law Reform Bill

moved Amendment No. 212A:"Page 87, line 34, after ““while”” insert ““acting as a””" The noble Lord said: I shall speak also to Amendment No. 212B. We have moved on at quite a rapid rate. These two amendments are recommended by lawyers who are very experienced in dealing with payments for loss of office who have drawn my attention to the fact that Clause 195 includes payments to past directors for loss of office, but that the remaining clauses, Clauses 196 to 202, do not consistently refer to payments to past directors. It would assist the interpretation if it could be made clear that the regime is to apply to past as well as current directors. I would welcome any comments that the Minister may have now or later. This is a probing amendment designed to clarify the position of payments to directors who have left office—past directors—to ensure that payment for loss of office for them ex post is properly covered. I beg to move.