HC Deb 25 January 1989 vol 145 cc564-5W
Mr. Gould

To ask the Chancellor of the Duchy of Lancaster which investigations under sections 432, 466 and 442 of the Companies Act have been completed since 1 February 1988.

Mr. Maude

The following investigations under these sections have been completed since 1 February 1988:

Company Name Type of Inquiry
Signal Life Assurance Co. Limited S.432
Summer International plc (formerly Sumrie Clothes plc) S.442 and S.446
Guinness plc S.432 and S.442
Consolidated Gold Fields plc S.442
Bremner plc S.442
House of Fraser Holdings plc S.432

Mr. Gould

To ask the Chancellor of the Duchy of Lancaster what is the management target for the duration of inquiries under sections 432, 466 and 442 of the Companies Act.

Mr. Maude

The usual practice is to agree a provisional time scale for the investigation with the inspectors at the outset and to hold regular progress meetings thereafter.

Mr. Gould

To ask the Chancellor of the Duchy of Lancaster which inquiries under sections 432, 466 and 442 of the Companies Act are currently outstanding.

Mr. Maude

The following investigations under section 432 and 442 of the Companies Act 1985 remain outstanding. There are no outstanding investigations under section 446.

Date of Appointment Company Name Type of Investigations
8 November 1982 Minet Holdings plc S.432
8 November 1982 WMD Underwriting Agencies Limited S.432
11 March 1983 Graylaw Holdings plc S.432
11 March 1983 Link Service Stations Limited S.432
4 October 1983 Bank Street Securities Limited S.432
4 October 1983 Pennine Commercial Holdings Limited S.432
20 November 1987 Animal Defence Society Limited (The) S.432
10 June 1988 James Ferguson Holdings plc S.432
4 July 1988 James Ferguson Holdings plc S.442
4 July 1988 Barlow Clowes Gilt Managers Limited S.432
22 July 1988 James Neill Holdings plc S.442

Date of Appointment Company Name Type of Investigations
22 July 1988 F. H. Lloyd Holdings plc S.442
22 July 1988 Francis Industries Limited S.442
16 August 1988 Rotaprint plc S.432
16 August 1988 Rotaprint plc S.442
1 September 1988 Aldermanbury Trust plc S.432
20 October 1988 Consolidated Gold Fields plc S.442
19 December 1988 County NatWest Limited S.432
19 December 1988 County NatWest Securities Limited S.432

Mr. Gould

To ask the Chancellor of the Duchy of Lancaster what is the average length of time for completion of inquiries under sections 432, 466 and 442 of the Companies Act begun since May 1979.

Mr. Maude

Two years three months.

Mr. Gould

To ask the Chancellor of the Duchy of Lancaster how many prosecutions have resulted from inquiries under sections 432, 466 and 442 of the Companies Act since May 1979.

Mr. Maude

To date, there have been eight prosecutions following such inquiries since May 1979.