Skip to main content

Companies Act, 1929

Volume 237: debated on Monday 24 March 1930

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the President of the Board of Trade whether, having regard to recent disclosures, he will amend the Companies Act, 1929, so as to provide that before publication of a prospectus inviting subscriptions to a company, a sum of not less than 20 per cent. of any part of the issue of capital which has been underwritten shall be deposited in cash with the bankers of the company?

I have noted the hon. Member's suggestion for investigation when the desirability of introducing amending legislation is being considered.