§ Mr. McCrindleasked the Secretary of State for Trade and Industry how many company inspectors are employed by his Department; if, in the light of recent events affecting the City, he has any plans to seek to increase the powers available to them; and if he will make a statement.
§ Mr. HowardThere are 20 specialist departmental officers engaged full-time on investigations, mainly under section 447 of the Companies Act 1985, in the companies investigation branch of my Department.
In addition, the Department engages outside inspectors as required to make inquiries under sections 432 and 442 of the Companies Act 1985, and to inquire into insider dealing allegations. At present there is a total of 20 such inspectors.
Powers of inspectors were widened by the Companies Act 1981 and the Financial Services Act. There are no plans for further change.