HC Deb 11 November 1969 vol 791 cc79-80W
Miss Devlin

asked the President of the Board of Trade whether he will seek extension of the powers given to the Board of Trade under the Companies Acts, 1948, and 1967, allowing initiation and conduct of investigation of company affairs, so as to permit appointment by them of inspectors to investigate the affairs of Northern Ireland registered subsidiaries of companies registered in Great Britain.

Mrs. Gwyneth Dunwoody

It would not be appropriate for the Board of Trade to have a general power to appoint inspectors to investigate the affairs of companies registered in Northern Ireland. Inspectors can, however, be appointed to investigate the affairs of such companies which are, or have been, carrying on business in Great Britain. Moreover, an inspector appointed to investigate the affairs of a company which has a subsidiary registered in Northern Ireland has power to investigate the affairs of that subsidiary if such an investigation is necessary for the purposes of the investigation he was appointed to make.

Miss Devlin

asked the President of the Board of Trade whether he will seek legislative extension of the obligation imposed on company management under the Companies Act, 1967, to indicate the scale of payments made to company directors, so as to require account to be given to remuneration paid to directors by subsidiary companies registered in Northern Ireland.

Mrs. Gwyneth Dunwoody

Section 6 of the Companies Act, 1967, already requires that the remuneration of a direc- tor of a company for the purposes of the Section shall include remuneration in respect of his services, while a director of the company, as director of, or in connection with the management of the affairs of, any subsidiary of the company which is registered in Northern Ireland.

Miss Devlin

asked the President of the Board of Trade whether he will seek legislative extension of the obligation imposed under Section 19 of the Companies Act, 1967, so as to require disclosure of certain donations for charitable purposes, extends to Northern Ireland registered subsidiaries of companies registered in Great Britain.

Mrs. Gwyneth Dunwoody

Section 19(2) already requires a company to include in the amount which it discloses as given for charitable purposes by it and its subsidiaries between them any money so given by a subsidiary registered in Northern Ireland.

Miss Devlin

asked the President of the Board of Trade whether he will seek to amend the Companies Act, 1967, so that purchase of shares or acquisition of other interests by directors, their spouses or their children, in Northern Ireland registered subsidiaries of companies with which they have connection, will be fully subject to the provisions of Sections 27, 28 and 29 of the said Act.

Mrs. Gwyneth Dunwoody

The interests with which these Sections are concerned already include any interests a director of a company may have in the shares or debentures of a subsidiary of that company which is registered in Northern Ireland.