§ 35. Mr. Bellengerasked the President of the Board of Trade when he proposes to lay before Parliament rules and regulations under Clause 19 of the Prevention of Fraud (Investments) Act?
§ Mr. StanleyIn accordance with the provisions of Section 7 of the Act, rules of conduct for licensed dealers in securities were published in draft form at the end of May. The rules will be made as soon as the representations which have been received in regard to them have been considered, and they will then be laid before Parliament. I also propose at an early date to lay before Parliament the regulations with regard to applications for licences which have to be made under Section 3 of the Act.
§ Mr. BellengerIs the failure to lay these rules holding up the operation of the Act, and can the right hon. Gentleman say when the Act will be made to operate as Parliament intended?
§ Mr. StanleyThere is no failure to lay these rules. Draft regulations have been published, and certain comments have been made, and it is in order to get comments that they are published, and until those comments are considered it is impossible to lay the regulations in final form.