§ Sir F. NELSONasked the President of the Board of Trade whether a well-known British oil company, operating in Venezuela, is managed and controlled by another British oil company holding a majority interest in the same, to the detriment of the minority shareholders; and whether he will consider inserting a Clause in the Company Law Consolidation Bill for the greater protection of minority shareholders in this and analogous cases?
§ Mr. H. WILLIAMSI am aware generally of the arrangements existing between the companies in question, but I have no information as to the possible effect of those arrangements upon various classes of shareholders. As regards the last part of the question, I would explain that the purpose of the Bill consolidating the Companies Acts must necessarily be restricted to the consolidation of existing legislation and cannot include its amendment.