§ 9. Mr. William Hamiltonasked the President of the Board of Trade what plans he has for ensuring that banking profits are fully disclosed.
§ Mr. JayI expect to propose, as I did in the Companies Bill introduced in the last Parliament, that the Board of Trade should have power by order to modify or repeal the provision in the Companies Act, 1948, which controls disclosure by banking companies.
§ Mr. HamiltonCan my right hon. Friend say whether he intends to introduce that Bill in the current Session? Secondly, does he accept, in whole or in part, the validity of the banks' argument as to why they should not make full disclosure?
§ Mr. JayThe answer to the second question is"Not fully ". The answer to the first is that I hope to legislate during the present Session.