§ 44. Mr. MITCHELL-THOMSONasked the First Lord of the Treasury whether his attention has been called to the growing practice on the part of moneylenders of incorporating their businesses as limited companies with a view to evading the provisions of the Moneylenders Acts; and whether he will consider the advisability of introducing legislation to prevent the continuance of such practices?
§ The PRESIDENT of the BOARD of TRADE (Mr. Burns)I have been asked by my right hon. Friend the First Lord of the Treasury to answer this question. If the hon. Member will be so good as to furnish me with information showing in what way the provisions of the Moneylenders Acts are, in his opinion, being evaded by moneylenders incorporating their businesses as limited companies, the matter shall be carefully considered.
§ Mr. WATTIs the right hon. Gentleman aware that the evil exists in the way of the preliminary fees demanded by these moneylenders? Will he bring in legislation?
§ Mr. BURNSI cannot promise legislation; but if my hon. Friend will give me any instances, I shall be pleased to inquire into them.