HC Deb 05 March 1901 vol 90 cc571-2

I beg to ask the President of the Board of Trade whether his attention has been drawn to the cases in which directors of public companies have failed to hold an annual meeting as provided by the articles of association of their companies; whether he is aware that apparently no penalty attaches to the omission, and the only method left to an aggrieved shareholder is an action at law; and whether he will take some action to prevent these breaches of the law.


I think my hon. friend correctly states the position of the law and I am not at present prepared to amend it. I should like to say, however, that the Board of Trade put some indirect pressure upon companies by proceeding under Section 27 of the Companies Act, 1862, to enforce compliance with the law as to filing Returns.