§ Mr. Milne
asked the President of the Board of Trade if he will institute an inquiry under the Companies Acts into the activities, in contravention of Section 38 of the Companies Act 1967, of the following inter-related companies, Sir Henry Lunn Limited, Minster Assets Limited, Travel Trust Limited, Invicta Airways Limited, and British Eagle International Airlines.
§ Mr. Dell
Section 38 of the Companies Act, 1967, extends the powers of the Board of Trade under section 165(b)(i) of the Companies Act, 1948. Section 38 enables the Board to appoint inspectors to investigate the affairs of a company, including a company in voluntary liquidation, where there are circumstances suggesting, among other things, that the business of the company has been conducted with intent to defraud creditors. 219W On present information there do not appear to be grounds for the appointment of inspectors to investigate the affairs of the companies to which my hon. Friend refers but I will consider any information which he may wish to put before me.