§ Mr. David ShawTo ask the Chancellor of the Duchy of Lancaster (1) what action he proposes to take in respect of the failure of Care Homes (UK) plc and against the original directors of the company;
(2) what information he has given the professional bodies of which the shareholder trustee accountants, auditors, lawyers and certain directors of Care Homes (UK) plc and Anglo Dutch Limited are members about the circumstances concerning the collapse of those two companies; and whether he has requested those professional bodies to take any action;
(3) if he will examine a copy of the prospectus of Care Homes (UK) plc, dated 6 March 1986;
(4) if his Department is aware of any misleading or untrue statement made in the prospectus issued by Care Homes (UK) plc;
(5) whether he proposes to take any action with regard to the prospectus issued by Care Homes (UK) plc, on 6 March 1986.
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§ Mr. MaudeI am aware of the proposal to place Care Homes (UK) plc in liquidation. It is not my right hon. Friend's practice to comment on the affairs of individual companies.
§ Mr. David ShawTo ask the Chancellor of the Duchy of Lancaster on what basis his Department decided to grant a licence to Anglo Dutch Ltd in 1983; and whether his Department received the information required to renew the licence in subsequent years.
§ Mr. MaudeA principal's licence issued under section 3 of the Prevention of Fraud (Investments) Act 1958 was granted to Anglo Dutch Limited (then known as Hay Hill Securities Limited) in 1983 following the submission by the company of the information required at that time from applicants for such licences and the carrying out of the checks then made to establish whether the applicant was a fit and proper person to hold a licence. Further applications were submitted in 1984 and 1985. In both cases these were submitted late, but the relevant forms and supporting documents were properly completed and licences were issued on both occasions. The company's licence lapsed in September 1986.
§ Mr. David ShawTo ask the Chancellor of the Duchy of Lancaster what action his Department is to take in respect of the failure of the licensed dealer in securities, Anglo Dutch Ltd.
§ Mr. MaudeAnglo Dutch Limited was wound up by the High Court of Justice on 8 December 1986. Accordingly, the Official Receiver has a statutory duty to investigate its affairs and his inquiries are nearing completion.
§ Mr. David ShawTo ask the Chancellor of the Duchy of Lancaster what was the country in which the shareholders of Anglo Dutch Ltd resided; and who were the ultimate beneficial shareholders in the company during the period of the licence to deal in securities.
§ Mr. MaudeAnglo Dutch Limited is a subsidiary of Anglo Dutch Holdings Limited which is also in liquidation in this country. The shareholders of the holding company appear to be resident in the Channel Islands, although information as to the identities of the ultimate beneficial shareholders is not available.
§ Mr. David ShawTo ask the Chancellor of the Duchy of Lancaster how many of the directors of Care Homes (UK) plc, at the time the prospectus was issued, are still engaged in business activities in the United Kingdom.