I move amendment No. 23 :
In subsection (1), page 52, line 9, to delete " which is not a private company ".
The section at present confines the issue of redeemable preference shares to public companies and continues the preference included in the amending Act of 1959. I think this should be amended so as to allow the preference to be given to companies whose shares are not quoted on the stock exchanges and to extend it to private companies.