HC Deb 22 July 1991 vol 195 cc370-1W
Mr. Austin Mitchell

To ask the Secretary of State for Trade and Industry on how many occasions in the past five years BCCI failed to file its annual accounts with the authorities within the statutory time limits.

Mr. Redwood

The Bank of Credit and Commerce International SA (BCCI) has established places of business in both London and Glasgow and has registered with the registrars of companies in both England and Wales and in Scotland. At no time during the past five years has the bank failed to deliver its accounts to either registrar within the statutory time limits.

Mr. Madden

To ask the Secretary of State for Trade and Industry if he will appoint departmental inspectors under the Companies Act to investigate BCCI.

Mr. Redwood

There is already an investigation by the Serious Fraud Office into the company and my right hon. Friend the Chancellor has just announced an independent inquiry into the supervision under the Banking Acts of Bank of Credit and Commerce International SA. There would appear to be no purpose in having another inquiry under the Companies Acts which would inevitably overlap with those already in train.