§ Mr. Dubsasked the Minister for Trade (1) if he will introduce legislation to prohibit commercial relationships between estate agencies and property companies in circumstances where partners of the former also have a major financial interest in the latter; and if he will make a statement;
(2) if he will introduce legislation governing commercial relationships between estate agencies and property companies so that where partners of the former also have a major financial interest in the latter, such circumstances shall be made publicly known.
§ Dr. VaughanNo. Under section 21 of the Estate Agents Act 1979, which comes into force on 3 May 1982, any person who is engaged in estate agency work and who has—or may acquire—a personal interest in a transaction must disclose that interest before entering into negotiations. Moreover, the Companies Acts require extensive disclosure of directorships and other interests in companies generally.