§ Mr. Andersonasked the Secretary of State for Trade (1) if, in view of the inadequacies of the City's self-regulatory system revealed in the recent purchase by de Beers of Consolidated Gold Fields' shares, he will bring forward proposals to strengthen the disclosure provisions in companies legislation;
(2) what conclusions he has drawn from the inspector's report on de Beers' purchase of a stake in Consolidated Gold Fields.
§ Mr. Eyre:The inspectors concluded that there was a need to reconsider the adequacy of the provisions of the Companies Acts as they relate to the disclosure of a beneficial interest in shares. My Department issued a consultative document in August and invited comments on various possibilities. The response is being assessed.
§ Mr. Andersonasked the Secretary of State for Trade whether any prosecutions will result from the inspectors' report on the ownership of Consolidated Gold Fields.