§ Mr. Blakerasked the Secretary of State for Trade and Industry what arrangements he is making to secure contact and consultation by his Department with outside interests in the field of company law in relation in particular to proposals for new legislation and to developments within the European Economic Community.
§ Mr. NobleGood contacts have already been established between my Department and the various professional and other bodies concerned with these matters including the CBI Committee on Company Affairs recently set up under the chairmanship of Viscount Watkinson. I hope that these channels of communication will continue to be freely and effectively used.
I have now decided that it is desirable to supplement these arrangements by establishing two groups at working level, both under the chairmanship of the Under Secretary in charge of Insurance and Companies Division.
The first, which will take the place of the Companies Act Consultative Committee, will be the Companies Consultative Group whose task will be to advise the Secretary of State on proposals for the reform of company legislation and any related administrative questions. The members of the Group will be:
- Mr. M. R. Harris, Price Waterhouse & Co.
- Mr. N. S. Wilson, Slaughter & May.
- Mr. C. L. G. Baker, Dunlop Holdings Ltd.
- Mr. A. F. Murray, CBE, MA, FIA, Prudential Assurance Co. Ltd.
- Mr. H. Holmes, Unilever Ltd.
- Mr. I. Fraser, CBE, MC, Lazard Brothers & Co. Ltd.
The second Group will be the Advisory Working Party on Europe which will advise the Division on proposals for harmonisation of company law and other related matters arising from the accession of the United Kingdom to the EEC. The members will be provided by the CBI, the Institute of Chartered Accountants in England and Wales, the Stock Exchange, the Law Society and the Committee on Invisible Exports. The actual membership may vary according to the 145W particular subject matter being considered and the working party will therefore be kept on an informal and personal footing. Some questions may need to be examined by both the Advisory Working Party on Europe and the Companies Consultative Group.
Taken as a whole these arrangements will I hope ensure that the Department is enabled to keep in regular touch with those in the City, industry and professional bodies who are considering these matters and to have available ready sources of expert and, if need be, speedy advice when proposals are under consideration.
The secretary of the Consultative Group and the working party will be located at the Department of Trade and Industry, Sanctuary Buildings, Great Smith Street, London, S.W.1; any communications or recommendations about their work should be addressed to the Secretary.