§ Mr. Bruce-Gardyne
asked the President of the Board of Trade what reasons have led him to decide, against the recommendation of the Jenkins Committee on Company Law Reform, that the United Kingdom shipping companies should continue to enjoy accountancy exemptions.
§ Mrs. Gwyneth Dunwoody
The Government did not accept this recommendation. Paragraph 25 of Schedule 8 to the Companies Act, 1948, was amended by the Companies Act, 1967, so that the exemptions are available to shipping companies which satisfy the Board of Trade that, in the national interest, they ought to be exempted. The reasons for340W this were explained by the Government when the Bill which became the Act of 1967 was before Parliament.