HC Deb 01 July 1924 vol 175 cc1101-2
2. Mr. BAKER

asked the President of the Board of Trade whether he will consider the introduction of legislation to make a company formed to take over another company publish in the articles of association an auditor's statement of the value of the assets taken over and the paid-up capital of the old company?

Mr. WEBB

The question of requiring publication of the particulars to which the hon. Member refers has been noted for consideration when the next revision of the Companies Acts is undertaken.

Mr. A. M. SAMUEL

Does not the right hon. Gentleman think that there ought to be an investigation into the working of the Company Acts in view of the revelations of capital lost in certain companies recently under protection of limited liability, and is it not time that we should do something to amend the Company Acts so as to protect the shareholders as well as creditors?

Mr. WEBB

That suggestion has already been considered.

Mr. SAMUEL

Will the right hon. Gentleman consider appointing a Departmental Committee?

Mr. WEBB

That has to be considered.