§ Mr. Cordleasked the Secretary of State for Trade and Industry how many prosecutions were brought in 1972 under the Protection of Depositors Act 1963; and whether he is satisfied that persons making short-term loans to companies are adequately protected by that Act.
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§ Sir G. HoweThere were three successful prosecutions by the Department in 1972.
Deposit-taking companies are required to provide—at six-monthly intervals—detailed information regarding their finances, which is designed to enable prospective depositors or depositors to form a reasonable view of the wisdom or otherwise of depositing, or continuing to deposit, money with the companies concerned.