Although the Bill has clear aims and will have positive effects, there has been considerable controversy in relation to some of its provisions. I wish to address the relevant sections. Section 43 introduces a system whereby company directors will be required to draw up a compliance statement which will cover each company's policies and procedures concerning its compliance with its statutory obligations, including those arising under company and taxation law, which will be reviewed by auditors. Each company auditor will be responsible for the review of this compliance statement.