HC Deb 22 July 1935 vol 304 cc1493-4W

asked the Financial Secretary to the Treasury whether the Registrar of Friendly Societies will institute inquiries into any building society any part of whose assets has been wasted in advancing loans on domestic property, where it can be proved that defects exist or will manifest themselves and where vacation of premises has been due to the inability of occupier-owners to meet the avoidable financial outlay of remedying unsatisfactory materials, workmanship, and construction?


I have been asked to reply. I am advised that the registrar has no power to institute inquiries into the affairs of a building society except by appointing an inspector in the cases specified in Section 5 of the Building Societies Act, 1894.