§ Mr. GouldTo ask the Chancellor of the Duchy of Lancaster what representations he has received on his Department's record in completing inquiries under section 432, section 466 and section 442 of the Companies Act; if he has any proposals to speed them up; and if he will make a statement.
§ Mr. MaudeA number of representations have been received in the past about the length of time taken by inspectors appointed in major Companies Act investigations to complete their inquiries. As my right hon. and noble Friend announced on 11 May, a review of existing investigation powers and procedures was conducted in 1987 with a view to ensuring that investigations are 375W undertaken as effectively and as quickly as is compatible with a fair inquiry and, as a result of that review, a number of new measures were announced.
§ Mr. GouldTo ask the Chancellor of the Duchy of Lancaster (1) when he expects his inquiries under section 432 of the Companies Act into the Animal Defence Society Limited to be completed;
(2) when he expects his inquiries into Bremner plc under section 442 of the Companies Act to be completed;
(3) when he expects his inquiries under section 442 of the Companies Act into Consolidated Gold Fields plc to be completed;
(4) when he expects his inquiries into Pennine Commercial Holdings Limited under section 432 of the Companies Act to be completed;
(5) when he expects his inquiries into Bank Street Securities Limited under section 432 of the Companies Act to be completed;
(6) when he expects his inquiries into Link Service Stations Limited under section 432 of the Companies Act to be completed;
(7) when he expects his inquiries into Graylaw Holdings Limited under section 432 of the Companies Act to be completed;
(8) when he expects his inquiries in Signal Life Assurance Co., Ltd. under section 432 of the Companies Act to be completed;
(9) when he expects his inquiries into WMD Underwriting Agencies Ltd. under section 432 of the Companies Act to be completed;
(10) when he expects the inquiries under section 432 of the Companies Act into Minet Holdings to be completed;
(11) when he expects the inquiries into Guinness plc under sections 437 and 442 of the Companies Act to report.
§ Mr. MaudeThe investigations into the companies mentioned continue, and I am unable to say when they will be completed.
§ Mr. GouldTo ask the Chancellor of the Duchy of Lancaster when he expects his inquiries into Sumrie Clothes plc under section466 and section 442 of the Companies Acts to be completed.
§ Mr. MaudeThe inspectors were appointed under sections 442 and 446 of the Companies Act 1985. They submitted their report to the Secretary of State on 11 July, and it is currently being considered.
§ Mr. GouldTo ask the Chancellor of the Duchy of Lancaster when he expects the inquiries under section 432 of the Companies Act into House of Fraser Holdings plc to be completed.
§ Mr. Teddy TaylorTo ask the Chancellor of the Duchy of Lancaster when he expects to receive the report of the inspectors studying the circumstances in which House of Fraser and Harrods were acquired; and if he will make a statement.
§ Mr. MaudeI refer the hon. Member and my hon. Friend to the reply I gave to my hon. Friend the Member for Beaconsfield (Mr. Smith) yesterday.