§ Mr. Woollamasked the Secretary of State for Industry, Trade and Regional Development if he is aware that certain issuing houses are including in prospectuses relating to offers for sale of shares to the public of the United Kingdom, issued subject to the Companies Act, 1948, a clause having the effect of excluding cheques drawn on all banks in Northern Ireland; and if he will consult the Stock Exchange Council with a view to taking steps to prevent this practice.
§ Mr. D. PriceThis is a matter for the issuing houses and my right hon. Friend sees no reason to intervene. Cheques drawn on Northern Ireland banks may take up to six days to clear and I understand that, in the light of experience, some issuing houses have decided that this delays allotment longer than is desirable.