§ Mr. Cantasked the Secretary of State for Trade and Industry whether he will arrange for his Department to submit fuller reports to Parliament under Section 451 of the Companies Act, 1948, than has been customary hitherto, in particular by including an estimate of the number of contraventions in the relevant years of each Section of the Companies Act that can be breached.
§ Mr. Anthony GrantI am not convinced that any useful purpose would be served by a fuller report.
§ Mr. Cantasked the Secretary of State for Trade and Industry whether, as part of his review of the Companies Act, he will commission a study of existing company administration and law from an independent group of experts, such as the Companies Act Consultative Committee, given access to representations from the investing public, and subsequently lay before Parliament a statement showing how he proposes to implement their recommendations.
§ Mr. Anthony GrantWe shall consider any representations from the investing public, but we do not at present 375W intend to commission a study or reconvene the Companies Act Consultative Committee.
§ Mr. Cantasked the Secretary of State for Trade and Industry whether he will arrange for his Department to submit fuller annual reports on the activities of insurance companies to Parliament, covering contraventions of the Insurance Companies Acts, defects in existing law, administration and proposed corrective action.
§ Mr. Anthony GrantI will bear the hon. Member's suggestion in mind.