§ 14. Mr. Jayasked the President of the Board of Trade whether he will hold an inquiry under Section 165 (b) (iii) of the Companies Act, 1948, into the affairs of the Birmingham Small Arms Company.
§ Mr. P. ThorneycroftNo, Sir.
§ Mr. JayIs the President aware that this Section of the Act permits him to hold an inquiry if information is being withheld from shareholders? Is he further aware that the ex-chairman of the company has publicly stated that the present board is deliberately trying to hide essential information from the shareholders? If these accusations are being made by two sections of the board, is there not a case for the right hon. Gentleman to hold an inquiry?
§ Mr. ThorneycroftI have no official information about these matters; but I should have thought that one thing at least was clear, namely, that there is no shortage of information for the shareholders at the present time.