In our responses to the Commission’s own consultations, we welcomed proposals to widen the practical availability of shareholder rights while seeking to ensure that the practical efficacy and relatively low cost of the approach in the UK was not undermined.
Our position is that any directive should concentrate on removal of barriers to exercise of shareholder rights, rather than prescriptive rules as to how they are to be exercised.
Accordingly we welcome the Government’s position as stated in paragraph 2.11 of the Consultative Document.
