Companies (Hansard, 30 July 1971)

§ Mr. Cant

asked the Secretary of State for Trade and Industry (1) what was the number of cases noted under Section 172 of the Companies Act, 1948, in relation to public companies in each year since 1958, and which represented applications under Section 172(3);

(2) what was the number of appointments of inspectors under Section 172 of the Companies Act, 1948, in relation to public companies in each year since 1958; and which Section 172(3) applications were rejected;

(3) what was the number of cases noted under Section 172 of the Companies Act, 1948, in relation to private companies in each year since 1958; and which represented applications under Section 172(3);

(4) what was the number of appointments of inspectors under Section 172 of the Companies Act, 1948, in relation to private companies in each year since 1958; and which Section 172(3) applications were rejected;

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(5) how many times powers under Section 169 of the Companies Act, 1948, have been used in relation to public companies in each year since 1958;

(6) how many times powers under Section 169 of the Companies Act, 1948, have been used in relation to private companies in each year since 1958;

(7) how many times powers under Section 37 of the Companies Act, 1967, have been used in relation to public companies in each year since 1958;

(8) how many times powers under Section 37 of the Companies Act, 1967, have been used in relation to private companies in each year since 1958;

(9) what was the number of cases noted under Section 173 of the Companies Act, 1948, in relation to public companies in each year since 1958;

(10) what was the number of cases noted under Section 173 of the Companies Act, 1948, in relation to private companies in each year since 1958;

(11) what was the number of inspections made under Section 173 of the Companies Act, 1948, in relation to public companies in each year since 1958;

(12) what was the number of inspections made under Section 173 of the Companies Act, 1948, in relation to private companies in each year since 1958;

(13) what was the number of cases noted under Section 14(1) of the Insurance Companies Act, 1958, in relation to public companies in each year since 1958;

(14) what was the number of cases noted under Section 14(1) of the Insurance Companies Act, 1958, in relation to private companies in each year since 1958;

(15) what was the number of inspections made under Section 14(1) of the Insurance Companies Act, 1958, in relation to public companies in each year since 1958;

(16) what was the number of inspections made under Section 14(1) of the Insurance Companies Act, 1958, in relation to private companies in each year since 1958;

(17) what was the number of appointments of inspectors under Section 14(2) of the Insurance Companies Act, 1958, in 189W relation to public companies in each year since 1958;

(18) what was the number of appointments of inspectors under Section 14(2) of the Insurance Companies Act, 1958, in relation to private companies in each year since 1958;

(19) if he will set out in a table each section of the Companies Acts, the Insurance Companies Acts, the Protection of Depositors Act, 1963, and the Prevention of Fraud (Investments) Act, 1958, under which prosecutions are possible, and list how many public and how many private companies have been prosecuted under each such section since 1958, and with what results;

(20) how many public companies and how many private companies since 1958 have had exercised upon them his Department's powers under Section 5 of the Prevention of Fraud (Investments) Act, 1958; in how many cases such action was followed by a Section 6 tribunal; and what were the results;

(21) how many cases were noted under Section 18 of the Protection of Depositors Act, 1963, in relation to public companies in each year since 1958; and how many of these resulted in inspections;

(22) how many cases were noted under Section 18 of the Protection of Depositors Act, 1963, in relation to private companies in each year since 1958; and how many of these resulted in inspections;

(23) how many winding-up petitions were presented by his Department in relation to public companies and private companies, respectively, in each year since 1958; and under what statute such petition was brought in each case;

(24) how many times his Department has exercised its powers under Section 210 of the Companies Act, 1948, in relation to public companies and in relation to private companies, respectively;

(25) how many times the Accountancy Advisory Committee has met in each year since its inception; what matters it has advised upon; and on how many such matters its advice has so far not been wholly implemented;

(26) how many times the Insurance Consultative Committee has met in each year since its inception; what matters it has advised upon; and on how many such matters its advice has so far not been wholly implemented;

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(27) what are the names, terms of reference, functions, and composition of all advisory committees set up to give guidance to the Insurance and Companies Branch, including the Registrar of Companies and the Official Receiver;

(28) what was the number of applications relating to public companies under Section 164 of the Companies Act, 1948, in each year since 1958; and how many of these were respectively, initially and finally rejected;

(29) if he will give the number of cases noted relating to public companies under Section 165(b)(i) and Section 165(b)(ii) of the Companies Act, 1948, in each year since 1958; and in relation to how many of these no inspectors were appointed, omitting connected cases;

(30) what was the number of cases noted relating to public companies under Section 165(b)(iii) of the Companies Act, 1948, in each year since 1958; and in relation to how many of these no inspectors were appointed, excluding connected cases;

(31) what was the number of public and the number of private company liquidations commenced in each year since 1958; and how many of these were voluntary;

(32) what was the number of reports made by the Official Receiver in relation to public companies each year under Section 236(1) of the Companies Act, 1948, and the number in relation to private companies;

(33) what was the number of reports made by the Official Receiver in relation to public companies each year under Section 236(2) of the Companies Act, 1948, and the number of these which stated that in the opinion of the Official Receiver fraud had been committed; and if he will give similar statistics for private companies;

(34) what was the number of public examinations relating to public companies that have taken place under Section 270 of the Companies Act, 1948, since 1958; and if he will give similar statistics for private companies;

(35) why officers of the Pinnock Finance Company (Great Britain) Limited, stated in his Department inspector's report to have committed or been parties to serious offences, are not being prosecuted;

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(36) in relation to public companies and to private companies, respectively, how many cases were noted and how many were acted upon in each year since 1958, under each section of the Companies Acts, the Insurance Companies Acts, the Protection of Depositors Act and the Prevention of Fraud (Investments) Act which gives his Department discretionary powers;

(37) what was the estimated number of contraventions during 1970 by private companies and by public companies, respectively, of each section of the following statutes which is capable of being contravened, namely, the Companies Act, 1948, the Companies Act, 1967, the Insurance Companies Act, 1958, the Prevention of Fraud (Investments) Act, 1958, and the Protection of Depositors Act, 1963;

(38) under which Sections of the Companies Acts, the Insurance Companies Acts, the Protection of Depositors Act, and the Prevention of Fraud (Investments) Act his Department considers that it has discretionary powers;

(39) if he will list his Department's statutory duties under each Section of the Companies Acts, the Insurance Companies Acts, the Protection of Depositors Act, and the Prevention of Fraud (Investments) Act, in relation to all relevant companies covered by the Acts;

(40) if he will list his Department's statutory duties under each Section of the Companies Acts, the Insurance Companies Acts, the Protection of Depositors Act, and the Prevention of Fraud (Investments) Act, in relation to only some of the companies to which the relevant Act applies, and when the relevant Section does not itself restrict its own application, how are the cases where it admits to a statutory duty selected;

(41) what consideration he gives each year to the affairs of all quoted public companies to determine whether they give rise to the need for the exercise of his powers to protect investors, to safeguard the public interest and to enforce the law;

(42) what consideration he gives each year to the affairs of all insurance companies to determine whether they give rise to the need for the exercise of his power to protect policyholders and investors, 192W to safeguard the public interest, and to enforce the law;

(43) what consideration he gives each year to the affairs of all deposit taking companies to determine whether they give rise to the need for the exercise of his powers to protect depositors and investors, to safeguard the public interest and to enforce the law;

(44) what consideration he gives each year to the affairs of all large unquoted companies, to determine whether they give rise to the need for the exercise of his powers under the Companies Acts and other like legislation to safeguard the public interest and to enforce the law;

(45) what, according to available information, is the cause of the large and steady increase that has taken place since 1958 in the number of cases of public companies noted under Section 164 and 165(b) of the Companies Act, 1948, and what is the cause of the same trend in relation to private companies;

(46) what he considers to be the main sources, particularly as between applications from the public, from the Inland Revenue from police, etc., of public and private company cases, respectively, noted under Sections 164 and 165 of the Companies Act, 1948; and which of these sources have accounted for the bulk of cases noted since 1958;

(47) whether he will take legal action against the second auditors of the Pinnock Finance Company (Great Britain) Limited in the name of the company, under Section 37 of the Companies Act, 1967, in the public interest.