HC Deb 25 July 1991 vol 195 cc806-7W
Mr. Austin Mitchell

To ask the Chancellor of the Exchequer what plans he has to introduce legislation under which all banks would be required to file their annual accounts within 90 days of the year end.

Mr. Maples

None. All limited companies are already subject to statutory time limits for the filing of accounts.

Mr. Austin Mitchell

To ask the Chancellor of the Exchequer what plans he has to introduce legislation under which all banks would be required to publish a cash flow statement and related data.

Mr. Maples

The Government have no plans to introduce legislation in this area. I understand, however, that the Accounting Standards Board is working towards the publication later this year of an accounting standard which will require companies to include a cash flow statement in their annual accounts.

Mr. Austin Mitchell

To ask the Chancellor of the Exchequer (1) what plans he has to propose legislation to prevent banks from operating off-balance sheet financing schemes in their financial statements;

(2) what plans he has to introduce legislation under which bank auditors will be changed every five years;

(3) whether he has any plans to propose legislation under which bank depositors would individually be able to sue the auditors if the bank fails.

Mr. Cousins

To ask the Chancellor of the Exchequer (1) if he will propose legislation under which banks selling off-balance sheet financing schemes will not be licensed;

(2) if he will propose legislation under which a hank's auditors would be banned from supplying non-audit services;

(3) if he will propose legislation under which the annual reports of the banks will be required to publish the highest and the lowest interest rates charged by them during the year;

(4) if he will propose legislation under which all banks will be required to publish the auditor's comments on the internal financial controls of banks;

(5) if he will propose legislation under which all bank advertisements will be required clearly to state the maximum protection available to depositors.

Mr. Maples

The Government have no plans to introduce legislation.