HC Deb 28 May 1940 vol 361 cc408-9
42. Mr. Stokes

asked the President of the Board of Trade whether he will introduce legislation so as to ensure the registration of the names of the real owners of shares in limited companies, and abolish the system whereby shares are registered under the heading "nominees"?

The President of the Board of Trade (Sir Andrew Duncan)

As I stated in reply to my hon. Friend the Member for Lincoln (Mr. Liddall) on 20th February, the question of nominee shareholdings 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.

Mr. Stokes

Does not the right hon. Gentleman consider it imperative and in the public interest that we should know who are the holders of companies' shares, especially so that we may realise to what extent any particular company's shares are in the hands of foreigners?

Sir A. Duncan

There are so many other things that are even more imperative to-day.

Mr. Stokes

That is no answer to my question.

Mr. Speaker

The hon. Member must confine himself to questions and not make statements.