HC Deb 18 December 1952 vol 509 c249W
Mr. Pitman

asked the President of the Board of Trade whether he will set up a committee to examine the question of permitting companies to issue shares of no par value.

Mr. H. Strauss

Yes. My right hon. Friend has decided to appoint a committee with the following terms of reference:—To consider whether it is desirable to amend the Companies Act, 1948, so as to permit the issue of shares of no par value; and, if so, to consider and report what amendments in the Act should be made for this purpose, having due regard to the need for safeguards for investors and for the public interest. I am glad to say that Mr. Montagu L. Gedge, Q.C., has consented to act as Chairman. The other members of the committee will be:

  • Mr. John Adamson, C.A.
  • Mr. H. C. Arnold-Forster, C.M.G.
  • Mr. W. B. Beard, O.B.E.
  • Sir Sam H. Brown.
  • Viscount Harcourt, O.B.E.
  • Mr. E. H. S. Marker, C.B.
  • Mr. Arthur Whittaker, C.B.E.
  • Secretary: Mr. I. de Keyser, Board of Trade.