§ 6. Mr. Glenvil Hallasked the President of the Board of Trade whether his attention has been called to the use of the process of voluntary liquidation, as in the case of the Powell Duffryn group of companies, to enable preference shares, which by their terms of issue are not within the redeemable category, to be paid off at par or replaced by ordinary shares; and whether he will take steps to safeguard holders against the sacrifice of their rights, or loss of capital, which may result from the use of this method.
§ Mr. DaltonI have noted this case, and I have brought it to the attention of Mr. Justice Cohen's Committee on Company Law Amendment.