§ 80. Sir J. Leech
asked the Financial Secretary to the Treasury whether he will take steps to secure that building societies shall lodge more explanatory data to show the position of mortgaged properties in possession or in arrears of payment of interest and amortization, and to publish in the official accounts a suitable analysis of such figures?
§ The Financial Secretary to the Treasury (Captain Euan Wallace)
By Section 2 (I) (b) of the Building Societies Act, 1894, a society is required to set out in its annual account and statement such particulars in regard to properties in possession and mortgage repayments in arrear as are mentioned in the First Schedule to the Act. An extension of the existing requirements could only be effected by an amending Act. The matter will be noted for consideration when occasion arises for general amending legislation; but if my hon. Friend has any specific point in mind perhaps he will let me know.