HC Deb 25 February 1970 vol 796 cc336-7W
85. Mr. Bruce-Gardyne

asked the President of the Board of Trade when he expects to be able to give effect to the recommendation of the Jenkins Committee on Company Law Reform that the accounts of foreign-owned banks operating in the United Kingdom should be treated in the same manner as United Kingdom banks and should not enjoy accounting exemptions which the United Kingdom banks were denied.

Mrs. Gwyneth Dunwoody

Having come to the conclusion that the exemptions should be continued for British banks, the Jenkins Committee said that they thought that foreign banks should be treated in the same way. I do not think it follows that, because the exemptions are being withdrawn from a class of British banks, they should be withdrawn from the foreign banks.