§ Mr. Timothy Smithasked the Minister for Trade if, in view of the complexity of the draft rules and regulations proposed to be made under the Prevention of Fraud (Investments) Act 1958 as published by his Department in September and of the administration burdens that implementation of the draft rules and regulations will create both for licensed dealers and for officials of his Department, rather than seeking amendment of the rules and regulations under the 1958 Act, he will seek to amend the 1958 Act itself.
§ Dr. Vaughan:No. I accept that the draft instruments published in September are complex, but the matters with which they deal and the need to strengthen the existing rules and regulations make this inevitable. The need to strengthen the current provisions is widely recognised and the Government are committed to taking action under the 1958 Act to meet it. We shall need to consider Professor Gower's final recommendations before introducing any 268W legislation to replace the 1958 Act itself; and, as I and my hon. and right hon. Friends have stated, we do not envisage legislating for this purpose during the present Parliament. We could not justify failure to take some action under the powers already available in the meantime.
§ Mr. Timothy Smithasked the Minister for Trade if he will publish a list of those who are registered as licensed dealers under the Prevention of Fraud (Investments) Act 1958.
§ Dr. Vaughan:Section 9 of the Act requires a list of the names and addresses of all holders of principals' licences to be published at least once a year. Such a list was published on 7 June 1982. Changes during the course of a year are published inBritish Business.