§ 1. Mr. A. M. SAMUELasked the President of the Board of Trade whether his attention has been drawn to the Official 1085 Receiver's Report of the Anglo-Burma Oil Company which discloses the fact that a large capital sum has been lost, that there is a deficiency as regards creditors, and that the cash assets amounts to 2s. 8d.; and whether he will appoint a Departmental Committee to examine the Companies Acts for the purpose of ascertaining in what particulars they can be amended so as to render it less easy for the principles of limited liability to be used in future in such a way as to permit of results such as those disclosed in relation to the Anglo-Burma Oil Company?
§ The PRESIDENT of the BOARD of TRADE (Mr. Webb)I understand that the position disclosed in regard to the affairs of this company is as stated by the hon. Member. In reply to the last part of the question, the suggestion of the hon. Member shall have consideration.
§ Mr. SAMUELIs not this case a further and an immediate proof that steps should be taken to set up a Departmental Committee, in order to amend the Companies. Acts in such a way as to protect the public against scandals of the kind referred to in the question, just as the Committee on Bankruptcy is in the course of doing in connection with the Bankruptcy Act?
§ Mr. WEBBIf the hon. Member will repeat his question when the House reassembles, I hope to be able to give him an answer.