§ Mr. CousinsTo ask the Secretary of State for Trade and Industry in how many cases of section 447 of the Companies Act or equivalent investigations further investigations were carried out under other sections of the Companies Acts since 1979.
§ Mr. RedwoodBetween 1979 and 1989 three section 447 inquiries led to further investigations under other sections of the Companies Act. In addition one investigation under section 105 of the Financial Services Act 1986 led to further investigation under the Companies Act.
§ Mr. CousinsTo ask the Secretary of State for Trade and Industry in how many cases of section 447 of the Companies Act, or equivalent, investigations external advice or assistance was sought by his Department since 1979.
§ Mr. RedwoodInvestigations under section 447 of the Companies Act 1985, and under its predecessor, section 109 of the Companies Act 1967, can be carried out only by officers of my Department. Those carrying out such inquiries are advised by departmental lawyers as appropriate and it is rarely necessary to seek external advice or assistance. No separate record is kept of the number of cases in which such advice is sought.
From 21 February, when section 63 of the Companies Act 1989 comes into force, the Secretary of State will be able to authorise competent persons who are not officers of the Department under section 447.
§ Mr. CousinsTo ask the Secretary of State for Trade and Industry in how many cases of section 447 of the Companies Act or equivalent investigations cases were referred to either legal, professional or regulatory bodies for further action since 1979.
§ Mr. RedwoodSince 1979 information obtained under section 447 of the Companies Act 1985 and its predecessor, section 109 of the Companies Act 1967, has been made available when appropriate to the police and prosecuting authorities. The power to disclose restricted information under section 447 of the 1985 Act to professional or regulatory bodies has been available only since November 1986.
Records before 1987 are not readily available. Between 1 April 1987 and 31 December 1989, information obtained under section 447 was referred to either prosecution, professional or regulatory bodies outside my Department in 68 cases.
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§ Mr. CousinsTo ask the Secretary of State for Trade and Industry what was the total number of investigations carried out under section 447 of the Companies Act and the equivalent sections in preceding Acts since 1979.
§ Mr. RedwoodThe total number of investigations under section 447 of the Companies Act 1985 started and completed between 1 January 1979 and 31 December 1989 was 1,158.
§ Mr. CousinsTo ask the Secretary of State for Trade and Industry what was the total number of investigations carried out under the Companies Acts since January 1979.
§ Mr. RedwoodThe total number of investigations under the Companies Act started and completed since 1 January 1979 to 31 December 1989 was 1,194.