§ 39 and 40. Mr. Parkinasked the Secretary of State for Industry, Trade and Regional Development (1) if he will set up an inquiry under Section 165 subsection (b) (iii) of the Companies Act. 1948,into the affairs of Denecroft Estates Ltd., in whose name Grace Rymer Investments Ltd., contrary to agreed management policy and unknown to the owners, granted a 21½ year lease of 12a Albert Palace Mansions to Audrey O'Donnell without premium on 28th October, 1955, which lease was assigned on 23rd January, 1956, to Michael John Gray for a cash payment not passed to the company;
(2) if he will set up an inquiry under Section 165 subsection (b) (i) of the Companies Act, 1948, into the affairs of Grace Rymer Investments Ltd., who, contrary to agreed management policy 205W and unknown to Denecroft Estates Ltd., on 5th April, 1955, granted in their name a 21½year lease of 19 Albert Palace Mansions without premium to Perec Rachman who shortly afterwards sold it to Bessie Hill for cash not handed over to the company.
§ Mr. HeathNo. As no doubt Denecroft Estates Ltd., are aware of the facts alleged, it is for that company to take such steps as it is advised to recover any moneys of which it may have been defrauded. The company has made no approach to the Board of Trade. Moreover, there seems to be no case for investigation since, if the hon. Member is right in what he says, the material facts are already known.