§ 53. Mr. GINNELLasked the President of the Board of Trade whether he is aware of the persistent refusal and failure of the directors of the United London and Scottish Insurance Company, Limited, to supply information relating to the stability of that company reasonably asked for by a substantial number of its shareholders, or to receive a deputation from those shareholders or to meet their representatives; whether the Board of Trade was consulted with reference to the acquisition by this company of the Omnium Insurance Company and approved of that transaction; whether the Board will now appoint inspectors to investigate the affairs of the United London and Scottish Insurance Company and report at an early date; and whether, pending that report, the shareholders will be protected against calls which can be due only to mismanagement?
Mr. ROBERTSONThe Board of Trade are informed that an application was made to the directors of the United London and Scottish Insurance Company, Limited, on behalf of some of its shareholders for information with regard to the company's affairs, and that the directors declined to furnish the desired information, but no facts have been laid before the Board which are sufficient to justify the appointment of inspectors to investigate the affairs of the company. The Board were not consulted with reference to the acquisition by the United London and Scottish Insurance Company, Limited, of part of the business of the Omnium Insurance Corporation, Limited, and they have no jurisdiction to approve or disapprove of the transaction, nor have they any power to prevent the calling up of any of the uncalled capital of the company.