§ Mr. Bruceasked the Secretary of State for Trade and Industry how much time elapsed between the putting in of an inspector and the closure of the share shops of City Investment Centres; and if he will give reasons for the delay.
§ Mr. HowardAn officer was authorised on 28 July 1986, under the provisions of section 447 of the Companies Act 1985, to examine the books and records of City Investment Centres Limited.
On 7 November 1986 a petition for the compulsory winding-up of the company was presented under the provisions of section 440 of the Act and on the same day the Official Receiver was appointed provisional liquidator.
This action was taken as soon as sufficient information was available to support such a serious step. The winding-up order was made on 16 December 1986. There was no delay.