§ Mr. David Mitchell
asked the Secretary of State for Trade how many sorts of businesses for which his Department is responsible are required to have a licence or registration with his Department; and if he has any plans to extend this requirement.
§ Mr. Dell,
pursuant to his reply [Official Report, 26th May 1978; Vol. 950, c. 767–8], gave the following information:
There are, of course, general registration requirements regardless of the nature of the business. Thus, associations incorporate as companies by registering under the Companies Acts 1948–1976, so obtaining corporate status. Business names are required to be registered under the Registration of Business Names Act 1916, as amended. Limited partnerships require registration under the Limited Partnerships Act 1907.
Persons carrying on the business of dealing in securities are required to be licensed, exempted or otherwise authorised by the Department. Those carrying on insurance business are also required to be authorised by the Department, as are unit trusts which invest in securities and are to be promoted to the public. In addition, the Department performs registration functions under the Newspaper Libel and Registration Act 1881, and it also licenses cinemas and film distributors.
The Department has made no decision to extend these requirements. However, the possibility of extending the licensing of dealers in securities to cover investment advisers has been suggested in a consultative document.