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MODERNISING COMPANY LAW

EDM (Early Day Motion) 697A3: tabled on 17 May 2006

Tabled in the 2005-06 session.

This motion has been signed by 1 Member. It is an amendment to an existing motion.

As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.

This is an amendment to an existing motion

This motion was originally tabled by Sarah McCarthy-Fry on 10 October 2005. This is amendment number 3.

View details of the original motion

Suggested amendment

leave out from `but' to end and add `; recognises the concerns that groups such as Oxfam have raised relating to the Company Law Reform Bill; believes that it is important that UK companies strive to maintain the UK's reputation as amongst the most ethical countries in the world; understands that companies must not be allowed to irreversibly destroy the environment of countries they work in; further understands that while wages across the developed world are substantially lower than in the UK, companies should aim to pay wages that are fair by local standards; welcomes the principles outlined by pressure groups which are seeking to impose legal obligations onto British companies to pursue ethical policies but looks to the Government to ensure that ethical standards are maintained without further crippling UK businesses with burdensome regulations.'.

Original motion text

That this House believes companies are critical in achieving the aims of sustainable development and to making poverty history, but that in order to be able to do so their freedom to operate must be balanced with clear responsibilities to society and the environment; and urges the Government to enshrine in new company law a duty for directors to identify, consider, act and report on any negative social and environmental impacts caused by a company's activities in the UK or overseas.

The first 6 Members who have signed to support the motion are the sponsors. The primary sponsor is generally the person who tabled the motion and has responsibility for it. The date shown is when the Member signed the motion.

There are no withdrawn signatures for this amendment.