HC Deb 06 November 1968 vol 772 cc89-90W
55. Mr. Barnett

asked the President of the Board of Trade what proposals he has for a Securities Exchange Commission or Government-sponsored Take-over Panel; and if he will make a statement.

Mr. Crosland

I have discussed developments in the field of take-overs and mergers with the Governor of the Bank of England. The plans for strengthening the City Code and the Panel will be completed in consultation with the Board of Trade. It is hoped to announce them in the near future. I also discussed with the Governor the possible reinforcement of these measures by the Board of Trade.

Mr. Cant

asked the President of the Board of Trade whether he will introduce legislation to set up a Securities and Exchange Commission with statutory powers to regulate the whole range of dealings in stocks and shares.

Mr. Crosland

I am in touch with the Governor of the Bank of England on the possibility that the City's arrangements for supervising the conduct of take-overs and mergers may need to be reinforced by the Board of Trade.