I move amendment No. 61 :
To delete paragraph (b) (iii) and substitute the following;—
" (b) (iii) that its members have not been given a fair and accurate account of its affairs."
The purpose of this amendment is to change the terms of paragraph (b) (iii). As the paragraph is drafted at present, it is open to a member to complain to the Minister that he is not being given all the information relating to its affairs which he might reasonably expect. I think that is rather vague in the sense that a shareholder may have his own opinion about what is reasonable or what is desirable but provided the company furnishes sufficient information to give a fair and accurate account of its affairs, I think it should not be called upon to go further. I know of a case where at a company meeting a shareholder who was refused information which he sought expressed the view that he would see that the information was disclosed and used unreasonable threats to force the directors to give such information. As I understand it, our objective in this section is to secure that members be given a full and accurate picture of the company's affairs but not to the extent to which an individual might consider was reasonable or what he might expect. Provided of course one person's reaction is as reasonable as another's that is fair enough. I think it would be going too far to consider that in a case of this sort what a reasonable man might expect is what is right to raise. The shareholder who pushes it to extremes is very likely to be a person who has either a grievance or a fixed idea about it. Consequently I have rephrased it to read: " That its members have not been given a fair and accurate account of its affairs ", so as not to oblige the company to give information when it might not be in the company's interest to accede to an unreasonable request.