HC Deb 02 July 1979 vol 969 c904
27. Mr. Hal Miller

asked the Secretary of State for Trade whether he intends to deal with the position of non-voting shares in the forthcoming companies Bill.

Mr. Eyre

Although the matter has received preliminary consideration, I have as yet taken no decision.

Mr. Miller

Will my hon. Friend take into account the widespread concern that is felt that something should be done about non-voting shares and the previous commitments of the Conservative Party in that respect?

Mr. Eyre

I agree that the issue of non-voting equity shares can be undesirable. On the other hand, in certain circumstances they can be useful and they are acceptable to investors. I shall be glad to consider any detailed representations that my hon. Friend wishes to make on the matter.

Sir Derek Walker-Smith

Will my hon. Friend indicate shortly and in summary what are those circumstances?

Mr. Eyre

There are such circumstances, for example, in connection with the television industry where the Home Office wishes to keep control upon the respectability of those who hold those shares. There are other practical illustrations that I should be glad to discuss with my right hon. and learned Friend.