§ Mr. Wrigglesworth
asked the Secretary of State for Trade if he will increase the maximum fines permitted for offences under the Companies Acts.
§ Mr. Clinton Davis
As already announced, it is intended to bring Section 4 of the Companies Act 1976, which increases the maximum fines for late delivery of company accounts, into operation on 1st October 1977. In addition, the Criminal Law Bill, which is currently before Parliament, would have the effect of increasing many of the maximum fines under the Companies Acts. Consideration is also being given, in the preparation of future legislation relating to companies, to increasing further the penalties for certain offences under the Companies Acts.