HC Deb 11 May 1972 vol 836 cc415-6W
Mr. Jay

asked the Secretary of State for Trade and Industry whether the inquiry into the practice of pyramid selling under Section 109 of the Companies Act, 1967 has been completed; and what action he proposes to take.

Mr. Noble:

Inquiries have been made on three occasions into individual companies said to be operating pyramid selling schemes; the position of two more is being considered. As the right hon. Gentleman knows, information gained by the use of Section 109 of the Companies Act, 1967, can only be disclosed in the circumstances prescribed by Section 111, but I hope that the findings will assist us in our consideration of whether more general action is needed.