§ 9. Mr. Shepherdasked the President of the Board of Trade if his attention has been drawn to the comments of the Registrar of Friendly Societies about the dangers arising from the present tendency for building societies to be started or revived and their funds used for the commercial purposes of the directors; and what steps he proposes to take to deal with this danger.
§ Mr. P. ThorneycroftI have been asked to reply.
Yes. The Chief Registrar of Friendly Societies is at present investigating the affairs of some building societies to determine whether or not they should be directed to refrain from inviting further subscriptions from members of the public.