HC Deb 19 May 1966 vol 728 cc1525-6
12. Mr. Bruce-Gardyne

asked the President of the Board of Trade what plans he now has for the introduction of legislation to give effect to the recommendations of the Jenkins Committee on the reform of company law.

Mr. Jay

A Companies Bill is being prepared for introduction in the present Session if time is available, and, if not, for introduction in the next Session.

Mr. Bruce-Gardyne

May we have an assurance that the Bill will be a considerable improvement on the miserable affair that the right hon. Gentleman introduced in the last Parliament and that it will take account of the Jenkins Committee's representations? Does not he agree that such a Bill would be far more urgent a contribution to industrial efficiency than such irrelevancies as the nationalisation of steel?

Mr. Jay

As we now have a better Parliament, with a bigger Government majority, there is a logical case for a bigger and better Bill.

Mr. Barber

The right hon. Gentleman has not answered my hon. Friend's Question. How does it come about that, before the election, the Government considered that company legislation was more urgent than steel nationalisation whereas now the latter is to have priority?

Mr. Jay

For the reason I have given—that, in this better Parliament, there is a place for a better Bill and that it takes a little time to prepare.