59. Mr. De la Bèreasked the Chancellor of the Exchequer whether he will consider introducing legislation to clarify the position as regards the status and powers of directors nominated and appointed by His Majesty's Government, with a view to those directors being more fully enabled to safeguard the interests of the public and carry out the duties for which they were appointed?
§ Captain WallaceMy right hon. Friend does not accept the implication in my hon. Friend's question, and he, therefore, sees no reason for adopting the course suggested.
Mr. De la BèreIs my right hon. and gallant Friend aware that these Government directors do not come up for reelection each year in the ordinary way, as other directors do, that no one knows exactly what their duties are, that the shareholders have to pay for them whether they want them or not, and that the whole position is thoroughly unsatisfactory?
§ Captain WallaceIf my hon. Friend will be kind enough to look at the answers which were given by the Prime Minister to questions by the hon. Member for Camlachie (Mr. Stephen) on 2nd June he may find that the position is not quite as unsatisfactory as he thinks.
§ Mr. StephenWill the right hon. and gallant Member arrange that a list of such directors should be prepared and made available for the House, together with the names of the respective companies and their remuneration?
§ Captain WallaceI circulated an answer in the OFFICIAL REPORT yesterday.