Grays Building Society

HC Deb 05 February 1981 vol 998 cc199-200W

Mr. Weetch

asked the Chancellor of the Exchequer if he will list the recommendations of the inspector's report on the Grays Building Society and the ways in which they have been implemented.

Mr. Lawson

The recommendation of the inspector's report on the Grays Building Society are listed on pages 167–174 of Cmnd. 7557, a copy of which is held in the House of Common's Library.

Many of the recommendations proposed with respect to the practices of the Chief Registrar have been implemented by administrative action.

The registry has allocated additional resources to monitoring the affairs of building societies. Regular meetings have been instituted between the boards of societies and officals of the registry.

Some of the recommendations of the inspector's report would require legislation, as I said in my reply on 8 August 1980—[Vol. 990, c. 416]—the Government have no immediate plans for primary legislation on building societies.