§ Mr. Whitakerasked the President of the Board of Trade what information he has as to the capital of the Union Accident Company; and whether he will institute an inquiry into this company under Section 165 of the Companies Act 1948 on the ground that the circumstances suggest that it is being conducted with intent to defraud its creditors.
§ Mr. JaySouthern Counties Insurance Co. Ltd. is registered under the Registration of Business Names Act, 1916, as the sole proprietor of Union Accident Insurance Company. The issued capital of Southern Counties Insurance Co. Ltd. is returned as £100,000.
The Board of Trade has made, and is continuing to make, inquiries, but on present information I am not satisfied that the Board would be justified in appointing an inspector under Section 165(b) of the Companies Act, 1948 to investigate the affairs of the company.