HC Deb 04 March 1941 vol 369 cc782-3W
Mr. Lyons

asked the President of the Board of Trade whether his advisers have foreseen the likelihood of the flotation of a number of unit trusts as soon as War Loan financial precautions can be relaxed; and whether he will, apart from taking action to control share pushing, provide in advance for the application of relative provisions of the Prevention of Fraud Act?

Mr. Lyttelton

The provisions of the Prevention of Fraud (Investments) Act, 1939, relating to unit trusts depend on the enforcement of the main provisions of the Act regarding the licensing of dealers in securities and circularisation. On the general question of enforcement I have nothing to add to the answer which I gave on nth February to my hon. Friend, the Member for Lincoln (Mr. Liddall), but I will bear in mind the point raised by my hon. and learned Friend.