§ 7. Sir BERTRAM FALLEasked the President of the Board of Trade whether he will, during the first week in July, prepare a list of limited liability public companies whose financial year has ended between 31st December, 1929, and 30th June, 1930, so that it may not be necessary to wait till 1st January, 1931, before ascertaining whether such companies have complied with Sections 112 and 123 of the Companies Act, 1929?
§ Mr. W. GRAHAMI am afraid that the list which the hon. Member suggests, even if it could be compiled, would not have the effect desired. The Department has no definite information as to the date at which the financial year of a company terminates until after the receipt of a balance sheet which will normally be filed as the result of compliance with the Act. I would add that Section 112 has no relation to the financial year of a company, while Section 123 permits the holding of a meeting to comply with that Section nine months after the end of the company's financial year, so that only in the case of companies whose accounts are made up to a date before the end of March is the meeting required to be held before the end of the calendar year.
§ Sir B. FALLEWhy wait for 12 months?
§ Mr. GRAHAMIt is hardly avoidable as the Act stands. If we had what I 1753 will call popularly a birthday book of the companies, it would be different, but that would be a rather large operation.