§ 28. Mr. BURNETTasked the President of the Board of Trade whether, for the protection of private investors, he will take steps to ensure that when invitations are made to the public to subscribe to fixed trusts or to units thereof, they should be accompanied by a disclosure of the remuneration, commission, fees, and profits to be obtained by the managers of the trust as distinct from the trustees?
§ Mr. RUNCIMANI have no power to require the disclosure of the information suggested by my hon. Friend.
§ Mr. BURNETTWill the right hon. Gentleman bear in mind the danger of possible exploitation by these trusts with a view to taking measures against it?
§ Mr. RUNCIMANI have no power to require a disclosure of these facts.
§ Mr. JOHN WILMOTWill the right hon. Gentleman consider the urgent necessity of amending the law relating to industrial and provident societies with a view of preventing that machinery being used for evading the provisions of the Companies Act?
§ Mr. THORPIs it not the case that industrial and provident societies are used by co-operative societies?
§ Mr. THORNEYes; and why not?