HC Deb 12 July 1976 vol 915 cc48-9W
30. Mr. Lee

asked the Secretary of State for Trade if he will introduce legislation to enlarge his powers under the Companies Acts to secure the winding up of companies indulging in undesirable practices, in the light of the difficulties encountered by his Department in relation to pyramid selling and the secondary mortgage promotion activities of fringe banks.

Mr. Clinton Davis

Abuses of this kind are already dealt with in other legislation. However, the powers of the Secretary of State to petition for the winding up of companies will be considered in the course of the current review of company law.

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