§ Mr. Thorntonasked the Secretary of State for Trade whether he proposes to seek to amend the law in relation to company and business names.
§ Mr. EyreMy right hon. Friend indicated on 10 December 1979 that he was considering a modification of the discretionary powers exercised by our Department in respect of company names. With the growth in the number of companies registered, the present system makes unacceptable demands on the resources of the Department. We have concluded that a more objective test must be introduced, and proposals for the amendment of the Companies Act 1948 will be set out in a 357W consultative document to be published next week. In addition, in context of the Government's policy of cutting back non-essential functions of Government, we have concluded that the maintenance of a central register of business names can no longer be justified. The consultative document will invite comment on alternative measures to assist the public to ascertain the ownership of businesses. We hope that the necessary legisative provision can be made next Session.