HC Deb 06 July 1953 vol 517 c841
18. Mr. Pitman

asked the Minister of Fuel and Power if he is aware that the stockholders of a number of gas companies have not received the distribution to which they are entitled in the light of the recent decision of the High Court in the case of Whittington v. the North Eastern Gas Board re the Morley Gas Company, and that the stockholders in question are unable to pursue their remedy, as their duly-appointed representatives have now ceased to hold office; and if he will exercise his powers under Section 27 of the Gas Act, 1948, to enable fresh representatives to be appointed or afford other means of pursuing a remedy.

Mr. Geoffrey Lloyd

So far as I have powers under Section 27 of the Gas Act, 1948, to cause or enable a stockholders' representative to be appointed, and the exercise of those powers is necessary to enable stockholders to pursue any remedy available to them, I am certainly prepared to exercise my powers.

Mr. Pitman

Will the Minister similarly exercise those powers in the case of the basic price company, which has a Board of Trade clause where the undistributed profits would be distributable had the Ministry of Fuel and Power laid down, during the war—when they were too busy otherwise to consider it—conditions under which they might be distributed?

Mr. Lloyd

As the House will realise, I had to take careful legal advice when drafting the original answer. I hope that my hon. Friend will not mind, therefore, if I ask for notice of that supplementary question.

Forward to