Oral Answers to Questions — Coal Industry. – in the House of Commons on 12th April 1932.
asked the President of the Board of Trade if he has considered the request from shareholders of the Allied Silica and Chemical Products, Limited, for an investigation by the Board of Trade under Section 135 of the Companies Act, 1929, into the affairs of that company; whether he has had representations made as to the hardship that would be entailed by those applying if security for costs of the inquiry had to be furnished; and whether he will, in the public interest, order such investigation to take place without requiring any security?
I have considered the request of shareholders of the Allied Silica and Chemical Products, Limited, for an investigation under Section 135 of the Companies Act, 1929, into the affairs of the company but it does not appear to me that any useful purpose would be served by the appointment of an Inspector since, so far as I am aware, no directors or other officers of the company can be traced and the company does not appear to have any offices or books.
May I ask the right hon. Gentleman, seeing that the company has ceased to function and that a number of shareholders have lost the whole of their investments in the concern, he will bring the matter to the notice of the Director of Public Prosecutions with a view to his giving such consideration and taking such action as the matter justifies?
I will look into the matter again and communicate with the hon. Member.