§ Mr. Weetchasked the Chancellor of the Exchequer if he will initiate legislation requiring members of boards of building societies to declare their interests in writing with regard to loans by the society to commercial companies in which they have an interest.
§ Mr. Ian StewartSection 89 of the Building Societies Act 1962 provides that every annual return of a building society shall contain particulars showing the amount of any advances made by the society during the relevant financial year to directors or officers or to companies or other bodies corporate in which they have a material interest. The section also provides that it shall be the duty of any director or officer to give notice in writing to the society of such matters relating to his employment by, or other interest in, any company or other body corporate as may be necessary for the purposes of the section.