HC Deb 10 December 1986 vol 107 cc178-9W
26. Mr. Wigley

asked the Secretary of State for Trade and Industry if he will seek to amend companies legislation in order to provide safeguards against takeovers leading to asset-stripping exercises which involve the closure of branch factories.

Mr. Howard

No. Current legislation enables my right hon. Friend to refer to the Monopolies and Mergers Commission any merger which qualifies under the provisions of the Fair Trading Act and which he considers raises questions of public interest which deserve further consideration. The question of changes to the legislative controls over mergers falls for consideration in the review of mergers and restrictive trade practices. If the hon. Gentleman has any particular points which he would like the review to consider, I invite him to put them to my Department.