HC Deb 16 July 1931 vol 255 c765
70. Mr. A. M. SAMUEL

asked the President of the Board of Trade whether he will make it known that, for the better protection of the public and pending the amendment of the Companies Act, 1929, it is desirable that public companies should, in their published accounts, disclose individual profits and/or losses in each separate subsidiary concern in which they have a controlling interest, and that no dividend declared by or receivable from a subsidiary concern should be included in the published accounts of a holding company until the dividend has been received by the holding company?


The provisions relating to the accounts of companies which have subsidiaries are contained in Sections 125 and 126 of the Companies Act and might be reviewed in connection with any amending legislation, but it would not be proper for me to anticipate the decision of Parliament by urging companies to adopt the hon. Member's suggestion.