§ Mr. CohenTo ask the Chancellor of the Duchy of Lancaster what proposals he has to ensure that registers of shareholders clearly indicate the owners of companies and the extent of their ownership; and if he will make a statement.
§ Mr. MaudeProvision already exist for all those with interests in shares to disclose their interests when they reach 5 per cent. Companies also have powers under the Companies Act, 1985, to inquire into the ownership of interests in shares whatever the size of the holding. Disclosure made under these provisions must be recorded by companies in a register of interests in shares. I am not persuaded at present that there is a need to make major changes to these provisions. The Government intend, however, to issue a consultative document in order to seek views on whether improvements are possible.