§ Mr. Cockcroftasked the Secretary of State for Trade, in view of the continued failure of the Council of the Performing Right Society Limited to provide all the society's members with the details of the amounts loaned to certain of the society's officers at less than the market rate of interest, as the society has now confirmed, if he will now institute the investigation 832W into the affairs of the society under Section 165 (b) (iii) of the Companies Act 1948 which has been under consideration for over six months.
§ Mr. Clinton Davis,pursuant to his reply [Official Report, 22nd February 1978; Vol. 944, cc. 652–3], gave the following answer:
In the light of the evidence which has been supplied I have concluded that an investigation of the Performing Right Society under the Companies Acts is not called for.