§ Mr. Higginsasked the Secretary of State for Trade if it remains his intention to introduce a Companies Bill in the present Session of Parliament; when it is likely to be introduced; and if it will include provisions covering the prohibition of auditors holding shares in companies which they audit, restrictions on auditors holding directorships in other 221W companies, restrictions on loans to directors, and penalties for making them unlawfully.
§ Mr. Clinton DavisMy right hon. Friend intends to introduce a Companies Bill this Session: it will be ready in March. The scope of the Bill has not been finally decided, but it will not contain new restrictions on auditors.