§ 53. Mr. T. WILLIAMSasked the Attorney-General to state what reply he has given to the request made to him and the Public Prosecutor by representatives of the British holders of Kreuger group securities that he should inquire into the circumstances surrounding the flotation in London of those securities?
§ The ATTORNEY-GENERALNo request has been made either to me or to the Director of Public Prosecutions by representatives of the British holders of Kreuger group securities. The Director of Public Prosecutions has, however, received a complaint from an individual shareholder as to the issue of stock in this country, and has replied that in the absence of evidence from the applicant or otherwise of a criminal offence no action can be taken.
§ Mr. WILLIAMSIs it not the case that the representations were made by a reputable member of a stockbroking firm; and in those circumstances, does not the right hon. and learned Gentleman think that he ought to initiate inquiries for the purpose of providing some sort of security for British investors?
§ The ATTORNEY-GENERALI am not able to say whether the individual referred to is a member of a reputable firm of stockbrokers or not, but I will inquire. As to the latter part of the hon. Gentleman's question, I am perfectly prepared to consider any suggestion that may be made as to any offence which it is suggested has been committed.
§ Mr. WILLIAMSApart altogether from making any charges, does not the right hon. and learned Gentleman think that, in the interests of British investors, inquiry should be made into this matter?
§ The ATTORNEY-GENERALIt is not one of my duties to make inquiries in the interests of investors.
§ Sir ARTHUR MICHAEL SAMUELDoes the right hon. and learned Gentleman not see that the present methods of flotation of foreign paper here lend themselves to grave abuse of public conscience; and does he not think that those methods ought to be investigated by him for the protection of the public?
§ The ATTORNEY-GENERALWhether I think that they ought to be investigated or not, does not seem to me to matter. The question is whether I have the power to do it.
§ Mr. WILLIAMSIf the right hon. and learned Gentleman has not the power, does he not think that he ought to take the power which the House of Commons, I am sure, would willingly give him?
§ The ATTORNEY-GENERALI am not in a position to ask for legislation at this moment.