HC Deb 18 July 1933 vol 280 cc1678-9
51. Mr. SUMMERSBY

asked the Financial Secretary to the Treasury if his attention has been called to the report issued by the Chief Registrar of Friendly Societies upon the affairs of the United Women's Homes Association; and whether he will take steps to amend the Industrial and Provident Societies Act so as to protect small investors in societies formed under that Act from similar exploitation in the future?

Mr. HORE-BELISHA

The answer to the first part of the question is in the affirmative. As regards the second part, the circumstances will be borne in mind should an occasion for legislation arise.

57. Mr. SUMMERSBY

asked the Attorney-General whether the attention of the Director of Public Prosecutions has been called to the losses suffered by thousands of investors in the United Women's Homes Association, the Second United Women's Homes Association, United Citizens' Investment Trust, Limited, United Publishing Society, and United Citizens' Homes Associations, all being interlockng societies formed under the Industrial and Provident Societies Act; and whether he proposes to take action against the common directors in these interlocking societies, having regard to the Report of the Registrar of Friendly Societies on the affairs of the United Women's Homes Association?

The SOLICITOR-GENERAL (Sir Boyd Merriman)

The affairs of these societies and of the United Women's Homes Association in particular have been considered most carefully on more than one occasion by the Director of Public Prosecutions. The Registrar's report contained no allegation that the directors had committed any criminal offence, and there is no ground for any suggestion that the directors have personally misappropriated or misused the moneys of the various societies. In these circumstances notwithstanding the losses suffered by investors, and the failure of the directors to carry out the schemes which were held out as inducements to the investing public, I am satisfied that the facts would not support a criminal prosecution for obtaining money by false pretences or for any other offence.