HC Deb 09 January 1974 vol 867 c1W
Mr. Skinner

asked the Secretary of State for Trade and Industry if he has concluded his inquiries into the affairs of London and Counties Securities Group Limited; and if he will make a statement.

Sir G. Howe

I have decided to appoint inspectors to investigate the affairs of London and County Securities Ltd. under Section 165(b) of the Companies Act 1948 and to report thereon in accordance with the provisions of the Act. The decision to appoint inspectors has been made with the support of the new board of London and County Securities Ltd., and that of the First National Finance Corporation which has assumed responsibility for the management of the company.