We have followed the intended comments on the Proposed Changes being submitted by the Law Society's Company Law Committee.
Rather than duplicate comments, we would like to record our support for the comments of the Society's Committee.
We would refer directly to only one point, concerning frequency of dealing likely under the new régime. The need for changes to recognize to recognise that this may increase significantly is fundamental to the consultation of course.
However it is possible that for some companies the frequency could in the long-run be very high. The reason for this is that most large companies are frequently approached by shareholders with very few shares for advice on how to dispose of them. Normally companies would direct enquirers to appropriate services - usually a broker who offers a low cost service dealing once or twice a week at a set time). Under the new régime they may offer to buy-in the shares directly. For large companies, especially for the former nationalised industries, the number of these transactions could be large (although the total volume from them would be small).
