Oral Answers to Questions — British Army. – in the House of Commons on 7th May 1940.
asked the President of the Board of Trade whether he will take steps to amend Section 26 of the Companies Act, 1929, so that companies such as the Bankers Industrial Development Company, whose authorised capital is £6,000,000, are required to publish their annual accounts?
The statutory provisions relating to private companies will be considered when amendment of the Companies Act is under review, but I cannot hold out any prospect of such review in present circumstances.
In view of the Minister's experience of the steel industry and the association which this particular company is known to have had with regard to its reconstruction, does he not think that the accounts of this company ought to have public ventilation so that everybody knows what is going on?