HC Deb 20 February 1940 vol 357 cc1123-4
5. Mr. Liddall

asked the President of the Board of Trade whether, in order to prevent the misuse of the nominee-holding system, by which ownership may be masked, by avoiding Section 98 of the Companies Act, 1929, he will introduce immediately amending legislation, based upon Section 16 of the American Securities Exchange Act, 1934, by which quoted companies working under the United Kingdom Act of 1929 will be required to file a statutory declaration for record?

Sir A. Duncan

The question of nominee share-holdings has been noted for consideration when the amendment of the Companies Act, 1929, is under review, but I can hold out no prospect of any such review in present circumstances.