§ 222. Mr. Austin Mitchell
To ask the Secretary of State for Trade and Industry whether he will be seeking any assurances on democracy and openness from the organisations applying for supervisory body status under the Companies Act 1989.
§ Mr. Redwood
In general these are matters to be determined by the constitution of the body and by its membership. However, under the Companies Act 1989 the Secretary of State can recognise a supervisory body only if it appears to him that its rules and practices relating to membership, eligibility as a company auditor and discipline are fair and reasonable and include adequate provision for appeals.