§ 61. Mr. Bellengerasked the President of the Board of Trade whether he has any proposals to make for the collation and examination of numerous suggested revisions of the Companies Act made by hon. Members in recent years; and whether any committee of inquiry is likely to be set up by His Majesty's Government in the near future?
§ Mr. StanleyAll suggestions for the amendment of the Companies Act, which have been made by hon. Members and others, have been carefully noted for consideration when the question of amending the law is under review. Having regard, 2058 however, to the recent passage into law of the Prevention of Fraud (Investments) Act and the pressure of other urgent matters, I do not propose at present to set up a committee of inquiry.
§ Mr. BellengerDoes the right hon. Gentleman recollect that on more than one occasion he has assured the House that a revision of the Companies Act is now overdue; and, as an inquiry would take some time, would it not be better, in the interests of future legislation, if that inquiry were set up forthwith?
§ Mr. StanleyThere is at the present moment so much extra urgent work, due to war emergency, falling on my Department, that I could not contemplate placing upon it the extra work which would be involved by an inquiry of this kind. I certainly recognise the need for a revision of the Companies Act when that is possible, but it must be when there can be some relaxation of the present war emergency efforts.