§ Mr. BAKERasked the President of the Board of Trade whether, in view of the fact that many big combines of companies have subsidiaries which are private companies and that the absence of information about private companies greatly hinders that degree of publicity which public policy demands, he will consider the introducing of legislation to put private companies on the same basis as public companies in the matter of filing balance sheets, and also to compel all companies to file balance sheets annually, 73W and to compel all balance sheets filed to show figures of net profit and amounts to depreciation and to reserve?
Mr. ALEXANDERThe question of private companies was dealt with in the Report, dated 15th July, 1918, of the Company Law Amendment Committee of which Lord Wrenbury was the Chairman. The Committee came to the conclusion that no alteration was then required in the law relating to private companies. This matter and the other matters to which my hon. Friend has referred have been noted for consideration when legislation is introduced to amend the Companies Acts, but it will not be possible to introduce such legislation at present.