HC Deb 18 June 1973 vol 858 cc21-2
17. Miss Fookes

asked the Secretary of State for Trade and Industry if the inquiry into the collapse of Rolls-Royce Limited under Section 165 of the Companies Act 1948 has been completed; and if he will make a statement.

Mr. Peter Walker

The inspectors have now submitted their report and it is being considered.

Miss Fookes

Will my right hon. Friend bear in mind that many shareholders, including several of my constituents, are seriously concerned about this state of affairs and feel that their interests are the last to be considered?

Mr. Walker

That is why the Government decided to have a full detailed in- vestigation into and a report on this company. I received the report only a few days ago, but it will be considered urgently.

Mr. Pavitt

Is the right hon. Gentleman aware that in my constituency there are Rolls-Royce workers who for many years put their savings into shares in the company and are concerned about the present position? As things develop, will the right hon. Gentleman bear in mind the representations that I and others have made?

Mr. Walker

Yes, Sir.

Mr. Fletcher-Cooke

What is my right hon. Friend's policy about the publication of reports of investigations under this section? What, for instance, will be his policy about publishing the report on the V and G Insurance Company?

Mr. Walker

I cannot answer specific questions on that issue. As regards reports generally, it would normally be the practice of the Government to publish them. The only reason why that would normally not happen is if my Solicitor or the Director of Public Prosecutions considered that it would prejudice any criminal or civil proceedings which might arise on the report.