HC Deb 21 February 1968 vol 759 cc137-8W
Mr. Bruce-Gardyne

asked the President of the Board of Trade when he will complete his current review of the need for continuing to grant accounting exceptions to banks and discount houses.

Mr. George Darling

The study of the full accounts of the banks and discount houses over a period will take a considerable time and I cannot say when the review is likely to be completed.

Mr. Bruce-Gardyne

asked the President of the Board of Trade what examination his Department has made of information available to him from international sources about accounting exemptions enjoyed by publicly quoted banking and discount houses in the United States of America, Canada, Australia and South Africa, in order to assess the extent to which the withdrawal of accounting exemptions at present enjoyed by British banks and discount houses would weaken their competitive position internationally.

Mr. Darling

Her Majesty's Government had regard to the disclosure required of banking and discount companies in the United States of America and other overseas countries in deciding whether such companies in Great Britain should continue to be exempted from some of the accounting provisions of the Companies Acts.