§ 66. Mr. Mikardoasked the Chancellor of the Exchequer if he will publish a list of those companies which have not accepted his proposal for a voluntary limitation of dividends; and of the explanation for the increase in those cases in which he considers the explanation acceptable.
§ Sir S. CrippsIt would not be practicable to compile such a list. The scheme of dividend limitation was on a voluntary basis and has been observed over a high percentage in terms of issued capital of companies.
§ 70. Mr. Beswickasked the Chancellor of the Exchequer if his attention has been called to the fact that a company of which he has been informed have deliberately as a matter of policy broken the agreement to restrict the distribution of profits; and what action he proposes to take.
§ Sir S. CrippsI am aware of the case to which my hon. Friend refers, and very much regret the action taken upon the facts stated in the directors report. The policy of dividend limitation is however (like other parts of the White Paper policy) on a voluntary basis and I am glad to say that it has been fully observed by the vast majority of reputable companies.