§ Mr. Weetchasked the Chancellor of the Exchequer what is intended by the term "Committee of Management" used in schedule 2 to the Building Societies (Accounts and Annual Return) Regulations, 1972; whether he has received any proposals to amend any part of these regulations; and whether he has plans to do so.
§ Mr. LawsonThe words "Directors or Committee of Management" were used in schedule 2 to the Building Societies (Accounts and Annual Return) Regulations 1972 because in the rules of societies "Committee of Management" is sometimes an alternative to the more common term "Board of Directors". Thus, the Building Societies Act 1962 provides that the word "director" in relation to a building society includes a member of a committee of management and any other person occupying the position of director by whatever name called.
The 1972 Regulations have been amended and are now superseded by the Building Societies (Accounts and Annual Return) Regulations 1976, as updated by the Building Societies (Accounts and Annual Return) (Amendment) Regulations 1980. The corresponding provision of the 1976 regulations does not repeat the term "committee of management", since the great majority of societies now refer in their rules to the "board of directors".
It is to he expected that these regulations will be subject to amendment and revision from time to time as the situation requires.
§ Mr. Wheelerasked the Chancellor of the Exchequer where the Royal Mint Numismatic Bureau is located; how many civil servants are employed within it; at what cost; and how this compares with five years ago.
§ Mr. Peter ReesThe Royal Mint Numismatic Bureau has locations at Llantrisant, South Wales and New Jersey, USA. The bureau currently employs 45 civil servants.
464WNone of the bureau's costs is a charge on public expenditure. The bureau did not exist in its present form five years ago.