§ 9. Mr. C. Osborne
asked the President of the Board of Trade, since unit trusts are debarred from door-to-door selling but insurance companies are not, what steps he proposes to take to safeguard the public now that insurance companies are entering the unit trust field; if he is satisfied that it is in the public interest 1532 that direct restraint on unit trusts should be maintained; and if he will make a statement.
§ Mr. Maudling
Unit trusts are not prohibited from door-to-door selling but no unit trust sells units in this way and I am assured that the insurance company in question does not intend to do so either.
As to the second part of the Question, my Department has been in consultation with unit trust managers about amendments to the Board of Trade requirements and hope soon to receive their comments.
§ Mr. Osborne
I am obliged for that reply. Would not my right hon. Friend agree that, through unintentional misrepresentation as a result of high-pressure salesmanship, a situation could develop in which people would be buying at the door, which would not be desirable? If that situation were to develop, would my right hon. Friend watch it and ensure that some restrictions were imposed on this method?