HC Deb 05 December 1975 vol 901 cc413-4W
Mr. Cant

asked the Secretary of State for Trade whether, as the investigatory reports initiated under the Companies Acts rarely result in prosecution or recompense to shareholders, he is satisfied that they justify the amount of professional time and money involved in producing them.

Mr. Clinton Davis

I am satisfied that the cost of these investigations is justified. In some cases they do not lead to evidence of criminal offences which would justify prosecution, but where

holders of one insurance company and another.

Mr. Clinton Davis

The Act provides for levies on insurance companies and not on policy holders. The levy cannot exceed 1 per cent. of a company's net premium income in any year, and it is for each company to decide how it will meet any liability to levy.