§ Mr. Langford-Holtasked the Secretary to the Treasury, in the case of how many companies were Surtax directions under Section 245 of the Income Tax Act, 1952, given in the year ended 31st March, 1957; and how many companies offered to make additional distributions after action under that Section had been initiated.
§ Mr. SimonNotice of a Surtax direction was given in the year to 886 companies. 808 of these were investment companies which are subject to automatic direction. During the same period action under the company Surtax legislation was discontinued against 258 companies which had offered to make additional distributions.