§ 15. Sir JOHN FERGUSONasked the President of the Board of Trade if he will preserve detailed records relating to the promotion, financing, and flotation of public limited liability companies, and the purchase and sale of securities and of options on them, as disclosed in recent bankruptcy examinations and winding-up proceedings of companies floated during the 1928 boom, and request the Wilfrid Greene Committee to consider methods by which the governing bodies of the stock exchanges in London and the provinces may, by help of legislative sanctions, protect the public against abuse of confidence by unscrupulous persons in so far as they use stock exchanges to facilitate their operations?
§ Mr. W. GRAHAMThe available information on the matters referred to in the first part of the question is contained in the companies' statements of affairs and the Official Receiver's reports, copies of which are filed with the court and also preserved by the Official Receiver. As regards the second part of the question, the Wilfrid Greene Committee is no longer in existence, having completed its work in 1926.
§ 23. Mr. MARCUSasked the President of the Board of Trade if he will introduce legislation to make it obligatory upon all classes of stock and share brokers to deliver to purchasers the new stock or share certificates, or other forms of scrip, immediately after completion of each transaction?
§ Mr. GRAHAMI fear that I cannot undertake to introduce legislation on the lines suggested by my hon. Friend. I may remind him that Section 67 of the Companies Act allows two months for the delivery of a share certificate after the transfer has been lodged with the company.