§ 78. Mr. William Rodgersasked the Secretary of State for Trade and Industry what credit finance companies have lately applied for banking status; which have been granted it; what criteria have been involved; and if he will make a statement.
§ Mr. RidleyI assume that the hon. Member is referring to treatment as a banking or discount company for the purposes of the Protection of Depositors Act, 1963. Applications for this recognition are naturally treated in confidence. However, I can confirm that recognition has recently been granted to United Dominions Trust Limited, Mercantile Credit Company Limited, First National Finance Corporation Limited and Julian S. Hodge & Company Limited. All applications are considered on their merits according to the established criteria.