§ 12 and 19. Mr. Douglasasked the President of the Board of Trade (1) whether his attention has been called to the recent alterations of the rules of the Stock Exchange requiring, in respect of new issues of stocks and shares, a larger disclosure of information regarding the financial position of the company; and whether he has considered the advisability of introducing legislation requiring similar disclosure in respect of all securities dealt in on stock exchanges;
(2) whether he has considered the recommendations of the Council of the I.C.A. with regard to depreciation of fixed assets; and whether he will consider imposing upon companies and corporations whose shares are quoted on the Stock Exchange an obligation to prepare their accounts in accordance with these recommendations.
§ Captain WaterhouseMy attention has been called to the recent alterations of the rules of the Stock Exchange and to the recommendations of the Council of the Institute of Chartered Accountants referred to. I have no doubt that Mr. Justice Cohen's Committee on Company Law Amendment will take full account of these matters in formulating their recommendations.