§ Mr. Berminghamasked the Secretary of State for Trade and Industry what assessments he has made of the implications for the discharge of his statutory obligations regarding the regulation of companies and the conduct of company directors of the policy of joint stock banks of destroying records three years after the transactions concerned; and if he will make a statement.
291W
§ Mr. HowardThe expression joint stock banks usually means the clearing banks. They are public companies and required to keep their records for six years under section 222 of the Companies Act 1985. There is no reason to assume any widespread disregard of the Companies Act requirements as to the preservation of accounting records.