§ Mr. Barnettasked the President of the Board of Trade how many companies submitted accounts to his Department under Section 5(1) of the Protection of Depositors Act, 1963, in each of the years since the commencement of the Act; and how many of his staff are engaged in the investigation of those accounts.
§ Mr. JayAccounts were submitted by 95 companies in 1964, 112 in 1965 and28W 111 in 1966. The investigation of the accounts is undertaken with other work, but occupies the equivalent of the full time of three officers.
§ Mr. Barnettasked the President of the Board of Trade how many companies, subject to the Protection of Depositors Act, 1963, are overdue with the submission of required accounts; and what is the length of delay in each case.
§ Mr. DarlingAccounts from 12 companies are overdue. In three cases where accounts are overdue by thirteen, eight and seven months respectively, special circumstances apply. In the nine other cases the accounts are overdue by four months in three cases, and by less than two weeks in two cases. The Board of Trade are pressing for accounts from the companies concerned; under Section 5(1) of the Act these are prohibited from advertising for deposits while their accounts are overdue.
§ Mr. Barnettasked the President of the Board of Trade in how many cases he has used his powers under Section 3(1)(a) of the Protection of Depositors Act, 1963, to place restrictions on the form of advertising for deposits.
§ Mr. JaySection 3 empowers the Board of Trade to make regulations dealing with the contents and form of advertisements for deposits. The Protection of Depositors (Contents of Advertisements) Regulations, 1963, were made accordingly on 13th August, 1963.