71. Mr. H. Wilsonasked the President of the Board of Trade if he has studied the information sent to him by the right hon. Member for Huyton concerning the details of the take-over bid by Investment Registry Limited for Suburb Leaseholds Limited, and in particular, the treatment of the participating preference shareholders; and whether he will exercise the powers conferred upon him by the Companies Act in respect of withholding of information and oppression of minority shareholders and institute an inquiry under that Act.
§ Mr. ErrollThe object of an inquiry under the Companies Act is to establish the facts, but it seems from the Press report which I understand the right hon. Gentleman to have in mind, that the facts in this case are already known. No representations have been made to me 113W by shareholders and it is not clear how intervention by my Department could help them.
The issues raised in this case are of the kind relating to take-over bids which will be considered by the committee which my right hon. Friend is appointing under the chairmanship of Lord Jenkins.