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Business furious with late change to companies bill

Business has warned that a last-minute change to the
companies
bill
means businesses will be forced to disclose confidential information on
employees, and commercially-sensitive details of licensing agreements and joint
ventures.

Leading business leaders are to meet industry minister
Margaret
Hodge
next Monday to ‘demand some answers’ on the last-minute change
introduced by government last week, just before the bill could be rushed through
parliament, the Financial Times reported.

Although the new measure is designed to force businesses to disclose
information about their supply chains, the
Confederation
of British Industries
and Institute of Directors warned that the wording is
so vague, it could force companies to reveal information that may be potentially
commercially and legally sensitive.

The DTI has said it will be happy to talk to business about its concerns.

Further reading

Companies
bill to be made tougher

Big Four gains support on liability
argument

‘Green rules’ could become a global
corporate governance battleground

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