§ 36. Mr. Hal Millerasked the Secretary of State for Trade whether he has received any proposals to amend company law to provide for the formation of a proprietary company with a limit on capital subscribed.
§ Mr. Clinton Davis :No, but the Consultative Committee of Accountancy Bodies has recently put forward proposals for proprietary companies which might be exempt from certain requirements of the Companies Acts if their turnover, numbers of employees and shareholders do not exceed certain limits.