§ 14. Mr. HERBERT WILLIAMSasked the President of the Board of Trade
§ prepared to say to what extent, if any, the changes indicated by these figures may be due to any policy of endeavouring to secure a balance between exports and imports.
§ Lieut.-Colonel HENEAGECan the right hon. Gentleman say whether the volume of trade has gone up or gone down?
§ Mr. RUNCIMANIn some cases it has gone up and in others down.
§ Following is the statement:
§ whether he is considering the introduction of legislation, for the purpose of amending the Companies Act in respect of those matters where experience now shows that amendment is necessary?
§ Mr. RUNCIMANLegislation for the amendment of the Companies Act, 1929, is not likely to be undertaken at present.
§ Mr. WILLIAMSIs the right hon. Gentleman considering an examination of the various problems which have arisen as a result of the administration of the Act?
§ Mr. RUNCIMANYes, a considerable number of letters on the subject have been addressed to us by representative bodies, and they are being carefully examined.
§ 20. Mr. BURNETTasked the President of the Board of Trade whether, in view of the repeated failure of the safeguards for preference shares provided by the original terms of a prospectus issued under the Companies Act, 1929, he will prepare legislative proposals to protect 169 preference shareholders in a limited liability company from being sacrificed for the benefit of junior shareholders in the same company, or, failing that, will he, in any future company-law amending Bill, introduce a clause forbidding the use of preference shares as part of the constitution of any company subject to the laws of limited liability?
§ Mr. RUNCIMANI presume that my hon. Friend has in mind the safeguards provided by Sections 61 and 153 of the Companies Act, 1929. I have noted his suggestions which will be considered when the Act comes under review.