Ostrich Farming (Hansard, 18 June 1996)

§ Mr. David Shaw
To ask the President of the Board of Trade (1) if he will list all companies his Department's investigations showed to be connected to directors and others involved with the Ostrich Farming Corporation Ltd. indicating those companies currently under investigation by(a) his Department and (b) other public bodies; [32929]
(2) what investigations his Department is making into companies which obtained sales and marketing commissions from the Ostrich Farming Corporation Ltd. and the methods used by those companies to earn those commissions. [32932]
448W

Mr. John M. Taylor
Such inquiries are confidential and I cannot comment on whether the companies closely associated with Ostrich Farming Corporation Ltd. in the marketing of ostriches have or are being investigated.

§ Mr. Shaw
To ask the President of the Board of Trade what action his Department is taking to protect the interests of owners of ostriches purchased from the Ostrich Farming Corporation Ltd. [32930]

Mr. Taylor
Following inquiries under part XIV of the Companies Act 1985, the Secretary of State presented a petition for the winding-up of the company in the public interest and, at the same time, sought and shortly afterwards obtained the appointment of the official receiver as provisional liquidator of the company. The official receiver is in communication with the farming companies to which the company contracted out the day-to-day care of such ostriches and with owners and representatives of owners, and is continuing to seek the directions of the court in relation to this.

§ Mr. Shaw
To ask the President of the Board of Trade what assessment he has made of the compliance of the accounting records kept by the directors of the Ostrich Farming Corporation Ltd. with Companies Act legislation; and what assessment he has made of the adequacy of the company's records of assets and liabilities. [32933]

Mr. Taylor
Following inquiries under part XIV of the Companies Act 1985 the Secretary of State presented a petition to the court for the winding-up of the company in the public interest and has applied for and obtained the appointment of the official receiver as provisional liquidator of the company. The official receiver has taken into his possession the known books and records, including those which are computerised and will, if appropriate, report on any deficiencies he may find in such records to the appropriate authority.

§ Mr. Shaw
To ask the President of the Board of Trade on how many occasions the marketing of ostriches by the Ostrich Farming Corporation Ltd. and the operation of the company contravening(a) financial services, (b) companies and (c) banking legislation. [32931]

Mr. Taylor
If the Department discovers possible contraventions of legislation in the course of its inquiries, it considers these carefully and, if appropriate, takes action or reports its findings to those with responsibility for such action, but I cannot comment on individual cases.

§ Mr. Shaw
To ask the President of the Board of Trade what investigations he has conducted into newspapers which carried advertisements for the sale of ostriches by the Ostrich Farming Corporation Ltd.(a) in respect of their carrying out appropriate investigations prior to accepting the advertising and (b) the compliance of the advertisements with the financial services legislation. [32928]

Mr. Taylor
In respect of(a) none.
Under the self-regulatory system of advertising controls in the UK, it is the responsibility of the Advertising Standards Authority to ensure that the advertising industry complies with its agreed codes of practice.
In respect of (b) none.