§ 30. Mr. WILMOTasked the Financial Secretary to the Treasury if he is aware that the Chief Registrar of Friendly Societies has appointed an inspector to examine the affairs of the First Mortgage Co-operative Investment Trust, pursuant to Section 50 of the Industrial and Provident Societies Act, 1893; and whether, in view of the delay caused by the refusal of this trust to permit its members to inspect the register of names and addresses of the members for the purpose of applying to the registrar to appoint an inspector, and in view of the decision of the Court of King's Bench on 25th May, he will consider amending the law with a view to affording better protection for the savings of small investors?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Hore-Belisha)The 1464 answer to the first part of the question is in the affirmative. While the affairs of the Trust are sub judice, I am not in a position to express an opinion on the circumstances of the case generally.
§ Mr. WILMOTWhile thanking the hon. Gentleman for his reply, may I ask whether he will consider a short amending Bill to insert the word "addresses," since the court decision, because, as the law now stands, it is impossible for the members of these trusts to obtain access to the information which gives the names and addresses of their fellow members?
§ Mr. HORE-BELISHAThere may be a case for amending Section 17 of the Act on the lines suggested by the hon. Member, but while the case is sub judice he would hardly expect me to express a definite opinion.