§ 27. Mr. MARCUS
asked the President of the Board of Trade if he will consider the advisability of introducing legislation to compel every limited company to mention on all stationery the authorised nominal capital and the amount fully or partly paid up and 1234 similar details relating to the authorised amount of debentures?
§ Mr. W. GRAHAM
I am not satisfied that legislation on these lines is required, but my hon. Friend's suggestion has been noted.
§ 31. Mr. MARCUS
asked the President of the Board of Trade if he will consider the advisability of introducing legislation for the purpose of making members of private limited companies personally liable for any amount of the nominal capital not taken up, so that all the members shall be jointly and severally liable for any such part of the capital which is not taken up or not paid up?
§ 49. Mr. KELLY
asked the Chancellor of the Exchequer whether he will, when in due course setting up a committee to amend the Companies Act, 1929, also set up a departmental committee to examine the methods of the London Stock Exchange, with a view to embodying in an amended Companies Act recommendations which would bring the granting of stock exchange quotations under the control of the Act, so that investors may be protected against losses and unfair trading, such as have been shown in the courts to be possible owing to the committee of the London Stock Exchange not possessing adequate authority without the support of Parliament?
§ Mr. PETHICK - LAWRENCE
My right hon. Friend is not altogether satisfied as to the need for the suggested inquiry by a departmental committee but will bear the point in mind. The general question of setting up a committee to consider the amendment of the Companies Act is for the Board of Trade.
§ Lieut.-Commander KENWORTHY
Is is not very obvious in view of the tremendous losses that things are not as they were?
§ 50. Mr. KELLY
asked the Chancellor of the Exchequer whether, in view of the conditions attaching to the flotation of securities other than those of a trustee or gilt-edged nature, he will consider introducing legislation under which the powers of the London Stock Exchange to 1235 grant quotations to new public companies will be limited by prior certification of an examining body under the control of the economic advisers to the Government and designed to protect investors?
§ Mr. PETHICK-LAWRENCE
I fear that my right hon. Friend is not satisfied that legislation on the lines suggested is called for.
§ Mr. HANNON
Is it not a fact that the London Stock Exchange is one of the best managed institutions of its kind in the world?