HC Deb 04 February 1937 vol 319 c1778
88. Sir John Mellor

asked the President of the Board of Trade whether he is satisfied that the provisions of the Industrial and Provident Societies Acts afford sufficient protection to investors in property investment societies registered under those Acts; and whether the Government are prepared to take steps to apply to such societies provisions similar to those contained in the Companies Acts for the protection of the investing public?

Dr. Burgin

I would refer my hon. Friend to the statement made in this House by my right hon. Friend on 17th November, 1936. He then stated that legislation would be introduced as soon as practicable to give effect to the recommendations of the Departmental Committee on Fixed Trusts, including their recommendations on the subject of certain companies registered under the Industrial and Provident Societies Acts.

Sir J. Mellor

Will my hon. Friend bear in mind the fact that the Departmental Committee reported as long ago as July of last year, and will he endeavour to expedite the matter?