HC Deb 26 June 1973 vol 858 cc326-7W
Mr. Cordle

asked the Secretary of State for Trade and Industry how many prosecutions were brought in 1972 under the Protection of Depositors Act 1963; and whether he is satisfied that persons making short-term loans to companies are adequately protected by that Act.

Sir G. Howe

There were three successful prosecutions by the Department in 1972.

Deposit-taking companies are required to provide—at six-monthly intervals—detailed information regarding their finances, which is designed to enable prospective depositors or depositors to form a reasonable view of the wisdom or otherwise of depositing, or continuing to deposit, money with the companies concerned.