§ Mr. Cryerasked the Secretary of State for Trade if he will introduce legislation to make all so-called "pyramid selling" illegal and to ensure that much greater scrutiny is enforced on the formation and winding up of all limited liability companies.
§ Mr. Clinton DavisI am at present engaged in a wide ranging review of company law, and this will include any problems relating to the formation and winding up of limited liability companies. The objectionable aspects of so-called "pyramid selling" have already been dealt with under the Fair Trading Act 1973, for which my right hon. Friend the Secretary of State for Prices and Consumer Protection is responsible.
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