Companies Act 1989

14 (1) In section 88 of that Act, in subsection (1) for the words from “if requested” to “the relevant parties” there is substituted “to comply with any request of the appropriate Minister or Ministers to consult with any persons mentioned in the request (referred to below in this section as “the relevant parties”)”.

(2) After subsection (2) of that section there is inserted—

“(2A) Where—

(a) an undertaking is given under this section after the commencement of this subsection, or

(b) an undertaking given under this section is varied or released after that time,

the Minister to whom the undertaking is or was given shall cause the undertaking or, as the case may be, the variation or release to be published in such manner as the Minister may consider appropriate.”.

(3) In subsection (4) of that section—

(a) in paragraph (a) for “it” there is substituted “the undertaking is no longer appropriate and either the relevant parties (or any of them) can be released from the undertaking or the undertaking”, and

(b) in paragraph (b) for “that it” there is substituted “that any person can be so released or that an undertaking”,

and in subsection (5), after “varied” (in both places) there is inserted “or revoked”.

(4) In subsection (6) of that section the words from “the relevant parties” to the “and” immediately following paragraph (c) are omitted.

(5) Sub-paragraphs (1) and (4) (and the repeal in Schedule 24 corresponding to sub-paragraph (4)) do not apply in relation to any report made before the passing of this Act.