§ Mr. FallonTo ask the Chancellor of the Duchy of Lancaster whether, as part of his Department's inquiry into the activities of Barlow Clowes he will also examine the activities of Brookwood Asset Management and Woodhill Developments; and if he will make a statement.
§ Mr. MaudeThe inspectors have wide powers under the Companies Act 1985 and the Financial Services Act 1986 to investigate dealings between companies in the James Ferguson Group (including Barlow Clowes, Gilt Managers Ltd) and other persons. If my hon. Friend has any information pointing to the need for separate investigation of Brookwood Asset Management and Woodhill Development I would be grateful to receive it.
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§ Mr. BlairTo ask the Chancellor of the Duchy of Lancaster by what date Sir Godfray Le Quesne QC will complete his report into his Department's handling of Barlow Clowes.
§ Mr. CranTo ask the Chancellor of the Duchy of Lancaster when he expects the report of the investigation into his Department's handling of matters relating to the Barlow Clowes group to be completed and made available.
§ Mr. MaudeSir Godfray Le Quesne has been asked by my right hon. and noble Friend to report to him as soon as possible.
§ Mr. BlairTo ask the Chancellor of the Duchy of Lancaster if his Department has any evidence that Barlow Clowes and Partners in England transferred money to Barlow Clowes International in Gibraltar after October 1987.
§ Mr. MaudeI have appointed inspectors under section 432 of the Companies Act to look into James Ferguson Holdings plc which will enable the affairs of all that company's subsidiaries to be investigated. It will be open to the inspectors to look into the nature and extent of any transactions between those companies. It would he inappropriate for me to comment in advance of receiving the inspectors' report.
§ Mr. CranTo ask the Chancellor of the Duchy of Lancaster if the findings of the inspectors appointed under section 432 of the Companies Act 1985 to examine the affairs of James Ferguson Holdings plc will be made public, and when he expects the inspectors to complete their investigations.
§ Mr. MaudeIt is the practice to publish reports of inspectors appointed under section 432 Companies Act 1985 into public companies unless there are strong reasons to the contrary.
I am unable to say how long the investigations will last. The inspectors and I are anxious that their investigation should be concluded as quickly as possible.