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2002
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House
Session
Month
Department
Member
More
Primary member
Answering member
Legislative stage
Legislation
Subject
More
Publisher
Christmas recess motion speech on company regulation, corporate killing and whistleblowing.
Christmas recess motion speech on company regulation, corporate killing and whistleblowing.
Member
Ross Cranston
(Labour)
Type
Proceeding contributions
Subjects
Company law; Companies; Regulation
Date
19 December 2002
Reference
396 c1057-60
Chamber / Committee
House of Commons chamber
House
House of Commons
Draft SI on regulatory reform (removal of 20 member limit in partnerships etc) (SI 2002/3203). Lords debate on motion to approve. Agreed to on question.
Draft SI on regulatory reform (removal of 20 member limit in partnerships etc) (SI 2002/3203). Lords debate on motion to approve. Agreed to on question.
Lead member
Lord McIntosh of Haringey
Answering member
Lord Hodgson of Astley Abbotts
Department
Department of Trade and Industry
Type
Debates on delegated legislation
Legislation
Regulatory Reform (Removal of 20 Member Limit in Partnerships etc) Order 2002
Subjects
Company law; Companies; Administration; Business; Devolution; Northern Ireland; Membership; Partnerships; Registration; Regulatory reform orders
Date
19 December 2002
Reference
642 c865-72
Chamber / Committee
House of Lords chamber
House
House of Lords
To ask the Secretary of State for Environment, Food and Rural Affairs, what steps her Department has taken to encourage corporate environmental reporting. - Includes fact that response of companies in the FTSE 350 to Prime Minister's challenge to report on their environmental performance. List or results in the Library.
To ask the Secretary of State for Environment, Food and Rural Affairs, what steps her Department has taken to encourage corporate environmental reporting. - Includes fact that response of companies in the FTSE 350 to Prime Minister's challenge to report on their environmental performance. List or results in the Library.
Asked by
Mike Hancock
(Liberal Democrat)
Answered by
Michael Meacher
(Labour)
Answering body
Department for Environment, Food and Rural Affairs
Type
Written questions
Status
Answered
Tabled on
10 December 2002
For answer on
16 December 2002
Answered on
16 December 2002
Mr. Hancock: To ask the Secretary of State for Environment, Food and Rural Affairs what steps her Department has taken to encourage
corporate environmental reporting. [87134]
Mr. Meacher: We have have produced a series of guidelines to help companies measure and report their environmental performance,
including general guidelines published last year and more specific guidance on reporting the key impacts of greenhouse gas
emissions, waste and water. The general guidelines were endorsed by the CBI and sent to approximately 3,000 of their members, and to
all of the leading FTSE 350 listed companies.
We have written this year to companies in the FTSE 350 asking them what they had done to respond to the Prime Minister's challenge
to report on their environmental performance. A list of the results was placed in the Library of the House in July.
We have also been working with the Department for Trade and Industry on plans for some important new reporting provisions, set out
in the White Paper on Modernising Company Law published this summer. These would require approximately 1,000 of the most
economically significant companies to include information on environmental, social and community issues relevant to the company's
business in a new Operating and Financial Review. We have supported the Department of Trade and Industry in establishing an
independent group of experts to help develop guidance on how directors should assess whether an item is material to their company
and would therefore have to be included in its OFR. The group met for the first time this month and will produce guidance in autumn
next year.
Subjects
Disclosure of information; Company law; Companies; Environment protection; Standards; Departmental coordination
Date
16 December 2002
Reference
87134; 396 c577-8W;396 c593-4W
House
House of Commons
Type
Select Committee reports; House of Commons papers;
Parliamentary committees
Committee
European Scrutiny Committee
Notes
Received 06.01.03
Subjects
Company law; Finance; Enforcement; EU enlargement; Fines; EU action; Staff; Takeovers; European Commission
Date
11 December 2002
Reference
HC 63-iv 2002/03
House
House of Commons
To ask Mr Chancellor of the Exchequer, what the outcome of the ECOFIN Council held on 5th November was, what the Government stance was on the issues discussed, including its voting record; and if he will make a statement.
To ask Mr Chancellor of the Exchequer, what the outcome of the ECOFIN Council held on 5th November was, what the Government stance was on the issues discussed, including its voting record; and if he will make a statement.
Asked by
Jim Hood
(Labour)
Answered by
Gordon Brown
(Labour)
Answering body
Treasury
Type
Written questions
Status
Answered
Tabled on
20 November 2002
For answer on
26 November 2002
Answered on
26 November 2002
Mr. Hood: To ask the Chancellor of the Exchequer what the outcome of the ECOFIN Council held on 5 November was, what the
Government's position was on the issues discussed, including its voting record; and if he will make a statement. [82936]
Mr. Gordon Brown: I attended ECOFIN on 5 November.
Council reached political agreement on the prospectus directive. I argued for greater freedom of choice of home state for issuers of
non-equities, and secured an amendment to the text ensuring choice for all bonds denominated in units of è5,000 or more. A vote on
the amended text was taken and a qualified majority obtained, with the UK voting in favour. In accordance with the revised Council
rules of procedure following the Seville European Council, the initial debate and vote on the directive were held in public session.
The Council noted the Commission's annual oral update on progress against the Risk Capital Action Plan.
Professor Jaap Winter, Chair of the high level group of Company Law Experts outlined the key recommendations in his group's report
on creating a modern regulatory framework for company law and corporate governance in the EU. This report was published on 4
November. Members of the Council noted the report and will discuss it in more detail at a later date.
ECOFIN discussed, in restricted session, progress on the draft directive on the taxation of savings. The Presidency and the
Commission reported on negotiations with third countries, which are to be concluded by end 2002 according to the timetable agreed at
the Feira European Council.
There was also a discussion on energy taxation. It was concluded that further preparatory work was needed on the outstanding issues
ahead of further discussion at the December ECOFIN.
Ministers decided that agreement on VAT Administrative Co-operation should be postponed until the December ECOFIN.
ECOFIN noted a draft interim report from the Economic and Financial Committee and the Economic Policy Committee on ongoing work on
streamlining economic and employment policy processes. It was agreed that further work on this should be undertaken jointly with the
preparatory committee for the Employment, Social Policy, Health and Consumer Affairs Council before the report is submitted to the
Copenhagen European Council.
In accordance with Article 104 of the Treaty, the Council agreed that Portugal had an excessive budget deficit, above the 3 per
cent. limit, in 2001, and adopted a Recommendation for Portugal to bring the excessive deficit to an end by 31 December 2002.
ECOFIN also agreed conclusions on the reform of governance of the European Investment Bank and the capital and reserves of the
European Central Bank in light of enlargement.
Under AOB, the economic and financial situation in the Lebanon was raised by the French Finance Minister.
After the Council meeting, ECOFIN Ministers held a dialogue with their counterparts from the EU candidate countries.
Subjects
Company law; Companies; Energy; EU enlargement; Law; Financial markets; EU action; EU economic policy; Personal savings; Regulation; Taxation; Portugal; European Investment Bank; EU Economic and Financial Affairs Council; European Central Bank
Date
26 November 2002
Reference
82936; 395 c152-3W
House
House of Commons
Type
Impact assessments
Author
Department of Trade and Industry; Treasury
Subjects
Disclosure of information; Crime; Company law; Companies; Costs; Finance; Ownership; Organised crime; Proceeds of crime; Private companies; Terrorism; Sequestration of assets
Commons Library location
RIA 02/121
Date
20 November 2002
Reference
Treasury;DTI
To ask the Secretary of State for Trade and Industry, what representations she has made on the European Commission's plans to enhance regulation on corporate governance. - Includes ref to "A Modern Regulatory Framework for company Law in Europe".
To ask the Secretary of State for Trade and Industry, what representations she has made on the European Commission's plans to enhance regulation on corporate governance. - Includes ref to "A Modern Regulatory Framework for company Law in Europe".
Asked by
Keith Vaz
(Labour)
Answered by
Melanie Johnson
(Labour)
Answering body
Department of Trade and Industry
Type
Written questions
Status
Answered
Tabled on
4 November 2002
For answer on
7 November 2002
Answered on
7 November 2002
Keith Vaz: To ask the Secretary of State for Trade and Industry what representations she has made on the European Commission's plans
to enhance regulation on corporate governance. [80042]
Miss Melanie Johnson: I welcome publication on 4 November 2002 by the Commission of the Report of the High Level Group of Company
Law experts (``A Modern Regulatory Framework for Company Law in Europe'') on matters related to company law and corporate
governance. I recognise the considerable work that has gone into this against a very demanding timetable and will be reviewing its
recommendations in detail.
I consider that the United Kingdom is well placed to contribute to the debate on corporate governance regulation within the European
Union. Important UK initiatives include:
Publication of the White Paper (``Modernising Company Law'') in July following completion of the Company Law Review last year;
An independent review of Non-Executive Directors led by Derek Higgs which began in April;
The work of the Co-ordinating Group on Audit and Accounting Issues which issued an Interim report in July;
and Review of the Regulatory Regime of the Accountancy Profession which published a consultation document in October 2002.
In order that this work can be reflected in the Commission's emerging plans. I have ensured that the Commission has been kept fully
informed and aware of the ideas and thinking being generated by these, and other, domestic corporate governance initiatives through
personal meetings and correspondence with the Commission, attendance at the Competitiveness Council on 30 September 2002 and follow
up meetings at senior official level with the Commission.
Subjects
Company law; Companies; Law; EU action; Management; Regulation; Reform; European Commission
Date
7 November 2002
Reference
392 c727-8W;392 c756-7W; 80042
House
House of Commons
Type
Select Committee reports; House of Commons papers;
Parliamentary committees
Committee
Deregulation and Regulatory Reform Committee; Regulatory Reform Committee
Legislation
Regulatory Reform (Removal of 20 Member Limit in Partnerships etc) Order 2002
Notes
Received 11.11.02
Subjects
Company law; Companies; Membership; Partnerships; Reform; Regulatory reform orders
Date
6 November 2002
Reference
HC 1303 2001/02
House
House of Commons
To ask the Secretary of State for Trade and Industry, if she will use the Company Law Review to ensure that companies assess the impact of social and environmental issues on their businesses. - Inc ref to Modernising Company Law (CM 5553).
To ask the Secretary of State for Trade and Industry, if she will use the Company Law Review to ensure that companies assess the impact of social and environmental issues on their businesses. - Inc ref to Modernising Company Law (CM 5553).
Asked by
Linda Perham
(Labour)
Answered by
Melanie Johnson
(Labour)
Answering body
Department of Trade and Industry
Type
Written questions
Status
Answered
Tabled on
30 October 2002
For answer on
6 November 2002
Answered on
6 November 2002
Linda Perham: To ask the Secretary of State for Trade and Industry, if she will use the Company Law Review to ensure that companies
assess the impact of social and environmental issues on their businesses. [79051]
Miss Melanie Johnson: The Government's response to the Company Law Review is set out in the White Paper ``Modernising Company Law
(Cm 5553)''. It contains proposals for a statutory statement of duties that would require all directors to recognise so far as is
practical in the circumstances social and environmental issues in deciding how best to promote the success of the company for the
benefit of its members. It also proposes that the most economically significant companies should report on their policies on these
issues, where they are necessary for an informed assessment of the business, as part of a statutory Operating and Financial Review.
Subjects
Company law; Companies; Business; Environment protection; Reform; Sustainable development
Date
6 November 2002
Reference
79051; 392 c367W;392 c386W
House
House of Commons
To ask the Secretary of State for Trade and Industry, if she plans that subclauses 75(2)(d)-(e) of the Draft Clauses contained in Modernising Company Law (Cm. 5553) would require the reporting on all significant environmental, social and community impacts of a company covered by this section, were these clauses to...
To ask the Secretary of State for Trade and Industry, if she plans that subclauses 75(2)(d)-(e) of the Draft Clauses contained in Modernising Company Law (Cm. 5553) would require the reporting on all significant environmental, social and community impacts of a company covered by this section, were these clauses to...
Asked by
Linda Perham
(Labour)
Answered by
Melanie Johnson
(Labour)
Answering body
Department of Trade and Industry
Type
Written questions
Status
Answered
Tabled on
30 October 2002
For answer on
6 November 2002
Answered on
6 November 2002
Linda Perham: To ask the Secretary of State for Trade and Industry, if she plans that subclauses 75(2)(d)-(e)
of the Draft Clauses contained in Modernising Company Law (Cm. 5553) would require the reporting on all significant environmental,
social and community impacts of a company covered by this section, were these clauses to be enacted. [79171]
Miss Melanie Johnson: If enacted as presently drafted, clause 75 would require the directors of a company to which it applied to
consider whether certain information should be included in its Operating and Financial Review in order to permit the members to make
an informed assessment of the company.
While subsections 75(2)(d) and (e) refer to a company's policies on environmental issues, and on social and community issues,
relevant to the company's business, subsection (f) relates to the company's performance against those policies.
Further detail on the draft clauses on the Operating and Financial Review is at Annex D of ``Modernising Company Law, Cm 5553-I''.
Subjects
Disclosure of information; Company law; Companies; Business; Environment protection; Reform
Date
6 November 2002
Reference
79171; 392 c366W;392 c386W
House
House of Commons
To ask the Secretary of State for Trade and Industry, in what ways she has encouraged companies to report on the social and environmental implications of their activities. - Inc ref to Modernising Company Law White Paper.
To ask the Secretary of State for Trade and Industry, in what ways she has encouraged companies to report on the social and environmental implications of their activities. - Inc ref to Modernising Company Law White Paper.
Asked by
Linda Perham
(Labour)
Answered by
Melanie Johnson
(Labour)
Answering body
Department of Trade and Industry
Type
Written questions
Status
Answered
Tabled on
30 October 2002
For answer on
6 November 2002
Answered on
6 November 2002
Linda Perham: To ask the Secretary of State for Trade and Industry, in what ways she has encouraged companies to report on the
social and environmental implications of their activities. [79055]
Miss Melanie Johnson: The Government have undertaken a wide range of activity to encourage companies to report on their
environmental and social performance. This includes the Prime Minister's challenge to the top 350 companies to publish annual
environmental reports, the work of the Pioneers group on Sectoral Sustainability Strategies and practical assistance such as the
General Guidelines on Environmental Reporting produced by DEFRA and DTI and published in collaboration with the CBI.
In the Modernising Company Law White Paper, the Government proposed that economically significant companies be required to prepare
an operating and financial review. The proposals would require information on the company's impact on the environment and wider
community, where relevant to an understanding of the company's business, to be covered in the narrative report.
Subjects
Company law; Companies; Environment protection; Reform; Sustainable development
Date
6 November 2002
Reference
79055; 392 c366W;392 c385-6W
House
House of Commons
Type
House of Commons papers; Select Committee oral evidence;
Parliamentary committees
Committee
Trade and Industry Committee
Subjects
Company law; Confederation of British Industry; Corporate Responsibility Coalition
Commons Library location
CS 340
Date
31 October 2002
Reference
HC 1283-iv 2001/02
House
House of Commons
Type
House of Commons papers; Select Committee oral evidence;
Parliamentary committees
Committee
Trade and Industry Committee
Subjects
Company law; Institute of Directors; Quoted Companies Alliance
Commons Library location
CS 340
Date
31 October 2002
Reference
HC 1283-iii 2001/02
House
House of Commons
Type
House of Commons papers; Select Committee oral evidence;
Parliamentary committees
Committee
Trade and Industry Committee
Subjects
Company law; Law Society; Trades Union Congress; Institute of Chartered Accountants in England and Wales
Commons Library location
CS 340
Date
29 October 2002
Reference
HC 1283-i 2001/02
House
House of Commons
Type
House of Commons papers; Select Committee oral evidence;
Parliamentary committees
Committee
Trade and Industry Committee
Subjects
Company law; Investment Management Association
Commons Library location
CS 340
Date
29 October 2002
Reference
HC 1283-ii 2001/02
House
House of Commons
To ask the Secretary of State for Trade and Industry, if she will make a statement on the outcome of the Competitiveness Council on 30th September.
To ask the Secretary of State for Trade and Industry, if she will make a statement on the outcome of the Competitiveness Council on 30th September.
Asked by
Helen Jackson
(Labour)
Answered by
Melanie Johnson
(Labour)
Answering body
Department of Trade and Industry
Type
Written questions
Status
Answered
Tabled on
15 October 2002
For answer on
16 October 2002
Answered on
16 October 2002
Helen Jackson: To ask the Secretary of State for Trade and Industry if she will make a statement on the outcome of the
Competitiveness Council on 30 September. [74945]
Miss Melanie Johnson: I represented the UK at the Competitiveness Council of Ministers in Brussels on 30 September. This was the
first meeting of the new Competitiveness Council, which is an amalgamation of the Internal Market, Industry and Research formations.
The five specific programmes of the sixth R&D Framework programme were adopted and there was political agreement on legislative
dossiers covering public procurement (the utilities directive) and fertilisers (fertilisers regulation). In addition, there was
political agreement on two company law dossiers: the updating of the First Company Law Directive on filing and disclosure of company
documents in the light of new technology; and the modernisation of the EU Accounting Directives to take account of the adoption of
International Accounting Standards as the reporting regime for the EU's listed companies.
Council Conclusions were adopted endorsing the Commission's Action Plan on Better Regulation and its rapid implementation.
There was a Presidency report on the proposed discussions at the Nyborg informal, of the methods of working of the new CC formation
and a progress report on the proposed 25 amendment (including some overlap with the 23 amendment) to the marketing and use of
dangerous substances directive to include controls on further carcinogens, mutagens and substances toxic to reproduction.
There were Commission presentations on the streamlining of the annual economic and employment policy co-ordination cycles and two
reports: the State of the Internal Market for Services and Second Biennial Report on Mutual Recognition in the Internal Market.
The Commission also reported that bilateral talks with Korea had failed to reach agreement, and the Commission confirmed that it
would now implement the decision as agreed by the Council in June--namely to launch the WTO case against Korea together with the
reintroduction of the limited and temporary shipbuilding subsidies.
Over lunch Professor Jaap Winter reported on the consideration by the High Level Group on Company Law of corporate governance issues
in the light of large- scale corporate collapses in the US. The Group's approach was to explore ways in which to improve standards
of corporate governance, where necessary, and strengthen the role of shareholders within a flexible EU framework. When the formal
session resumed conclusions supporting the development of an EU Action Plan were adopted without debate.
The UK voted in favour of political agreement on the public procurement directive and fertilisers regulation as well as the updating
of the First Company Law Directive and the modernisation of the EU Accounting Directives. The UK was also in favour regarding the
adoption of the five specific programmes of the sixth R&D Framework programme and the Council conclusions, on the Commission's
Action Plan on Better Regulation and on the development of an EU Action Plan on corporate governance.
Subjects
Accountancy; Company law; Competition; EU internal trade; Hazardous substances; EU action; Marketing; World Trade Organization; Trade competitiveness; South Korea; EU Competitiveness Council
Date
16 October 2002
Reference
390 c827-8W;390 c847-8W; 74945
House
House of Commons
The execution of deeds and documents: A consultation paper on the implementation of the Law Commission's Report 'The execution of deeds and documents by or on behalf of bodies corporate' by way of regulatory reform order. CP 09/02. 36 p. LCD. 2002.
The execution of deeds and documents: A consultation paper on the implementation of the Law Commission's Report 'The execution of deeds and documents by or on behalf of bodies corporate' by way of regulatory reform order. CP 09/02. 36 p. LCD. 2002.
Deposited by
Lord Chancellor's Department
Type
Consultation papers;
Deposited papers
Author
Lord Chancellor's Department
Committed on
10 October 2002
Originated on
1 September 2002
Received on
10 October 2002
Subjects
Company law; Companies; Documents; Law Commission; Property law
Commons Library location
Dep 02/1937
Lords Library location
HINF 2002/1814
Date
10 October 2002
Reference
Dep 02/1937
House
House of Commons
Review of the listing regime. 89 p. FSA discussion paper 14. FSA. 2002. [includes text of 'Primary market comparative regulation study: key themes' - April 2002 report by Pricewaterhouse Coopers]
Review of the listing regime. 89 p. FSA discussion paper 14. FSA. 2002. [includes text of 'Primary market comparative regulation study: key themes' - April 2002 report by Pricewaterhouse Coopers]
Deposited by
Financial Services Authority
Type
Deposited papers
Author
Financial Services Authority
Committed on
14 August 2002
Originated on
1 July 2002
Received on
14 August 2002
Subjects
Company law; EU action; Regulation; Reviews; Stock market; London Stock Exchange; Capital markets
Commons Library location
Dep 02/1797
Date
14 August 2002
Reference
Dep 02/1797
House
House of Commons
1st supplementary on definition of independent non-executive directors.
1st supplementary on definition of independent non-executive directors.
Asked by
Lord Ezra
(Liberal Democrat)
Oral questions - 1st Supplementary
Status
Answered
Answered on
30 July 2002
Subjects
Company law; Directors
Date
30 July 2002
Reference
638 c809-10
Chamber / Committee
House of Lords chamber
House
House of Lords
Answered by
Lord Sainsbury of Turville
(Labour)
Asked by
Lord Ezra
(Liberal Democrat)
Type
Oral answers to questions
Whether they intend to provide a statutory definition of the role of non-executive company directors.
Subjects
Company law; Directors
Date
30 July 2002
Reference
638 c809-10
Chamber / Committee
House of Lords chamber
House
House of Lords