§ 39. Mr. Stokesasked the President of the Board of Trade whether he will introduce legislation prescribing that all companies, whether incorporated under the Companies Acts or not, should ascertain from the registered holders of their share capital and from all future transferees thereof, whether the holder or transferee is entitled to the shares as beneficial owner and, if not, who is so entitled; and that the replies of the holders or transferees should be made available for inspection by the public at the company's registered office and at the office of the registrar of companies, within ordinary business hours, on payment of a nominal fee?
§ Captain WaterhouseThere is a variety of legitimate commercial interests which are facilitated by existing arrangements, and it would clearly be against the public interest to alter the existing practice without full examination of this and other allied questions.
§ Mr. StokesWill my hon. and gallant Friend consult once more with the President of the Board of Trade, who ought to be aware from his own experience of the undesirability of this practice?