§ Mr. Stainton
asked the Secretary of State for Trade and Industry if he will list his powers to cause an investigation into the shareholdings and transactions of the London and County Securities Limited group over the past two years; and if he will initiate action with especial 509W reference to dealings by directors, banks, insurance companies and pension funds.
§ Sir G. Howe
My powers of investigation into shareholdings are contained in Section 172 of the Companies Act 1948 and Section 32 of the Companies Act 1967. At present I have no information which would warrant the exercise of these powers in relation to the London and County Securities Group. The Stock Exchange is carrying out an inquiry into dealings in the shares of this group.