MR. PATRICK O'BRIEN
On behalf of my honourable Friend the Member for the St. Patrick Division of Dublin, I beg to ask the President of the Board of Trade whether his attention has been directed to the case of Milner re Beall and Singleton, where it is stated that a large sum was invested in worthless securities or bogus companies which, although registered, never carried on business nor purchased the properties for which they were formed; whether the Public Prosecutor has been instructed to act in the matter; and whether the Board of Trade will prosecute the promoters of fraudulent companies on the application of shareholders who have been victimised by false promises?
§ THE PRESIDENT OF THE BOARD OF TRADE (Mr. C. T. RITCHIE,) Croydon
I have seen a newspaper account of the case referred to. The Board of Trade have no power in regard to the prosecution of promoters of fraudulent companies. Where, however, a company is ordered to be wound up, and the investigations by the Official Receiver disclose primâ facie evidence of criminal offences, the Board cause a statement of the facts to be prepared and laid before the Director of Public Prosecutions.