§ Mr. Beaneyasked the President of the Board of Trade what steps he is taking to secure compliance with Section 17 of the Companies Act, 1967; what advice he has issued to directors of companies in this matter; and what further steps he proposes to take to ensure that directors of firms engaged in two different classes of business do not treat them as a single class for the purpose of the section.
§ Mr. DellThe Section leaves it to the directors to form an opinion whether the company is carrying on substantially differing classes of business. We have, therefore, given no general advice how their discretion should be exercised.