§ 12. Mr. LOGANasked the President of the Board of Trade whether he is aware that a meeting of the Stoll Theatres Corporation, Limited, was held on 25th April, called by some 400 holders of 370,000 shares, following the refusal of the chairman to give at the last annual meeting information as to the losses of the subsidiary companies and other matters in the auditors' certificate; that although the resolutions moved at that meeting requiring the directors to give the information were actually carried on a show of hands, the chairman declared the resolutions to be lost and declined either to give the figures of the voting or to allow a recount or the appointment of tellers; and if he will inquire into the matter with a view to amending the Companies Act, 1929, or otherwise putting a stop to the continuation of such practices?
§ Mr. RUNCIMANMy attention has been drawn to a newspaper report of the meeting to which the hon. Member refers. According to that report each extraordinary resolution moved at the meeting was lost both on a show of hands and by a large majority on a poll demanded by the chairman. I have in any case no powers to inquire into circumstances of the kind suggested by the hon. Member, but, if he has any specific proposals to make as to the amendment of statutory requirement regarding subsidiary companies, they will be noted for investigation when the amendment of the Companies Act is under consideration.
§ Mr. RUNCIMANCertainly.