§ 39. Mr. Fernyhoughasked the Secretary of State for Trade if he will introduce legislation to eliminate the practice of investors hiding behind nominee shareholders.
§ Mr. Clinton DavisProvisions added to the Companies (No. 2) Bill in Committee will considerably strengthen the law in relation to the use of nominee shareholdings. In particular, Clause 24 197W gives listed companies the right to require any member to indicate whether or not he is the beneficial owner of shares registered in his name, and, if not, on whose behalf the shares are held.