COMPANIES AND REGISTRATION OF ACCOUNTS

HL Deb 07 December 1972 vol 337 cc460-2WA

LORD BARNBY

asked Her Majesty's Government:

How many companies are understood to have failed to file their balance sheets in accordance with the regulations; and whether they are aware of the inconvenience that this failure causes to suppliers, who are thus without up to date knowledge of their customers' financial position; and what action they propose to take to hasten conformity.

THE PARLIAMENTARY UNDERSECRETARY OF STATE, DEPARTMENT OF TRADE AND INDUSTRY (THE EARL OF LIMERICK)

The information sought in the first part of the Question is not available. However, some 32,000 reminders were sent to companies in 1971 in connection with overdue accounts, and some 50,000 are expected to have been sent by the end of this year. My right honourable friend is well aware of the need to secure greater compliance by companies with this aspect of the law, and anticipates that the computerisation of records at the Companies Registration Office will facilitate the pursuit of defaulters.