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Bonus Share Issues

Volume 467: debated on Tuesday 12 July 1949

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asked the Chancellor of the Exchequer how many applications for permission to issue bonus shares have been received by the Capital Issues Committees since 6th April, 1949; how many have been sanctioned; how many refused; and what was the aggregate nominal value in each case.

Up to and including 6th July, 116 applications had been received to a nominal amount of £43,381,021; of these 115 had been sanctioned to a nominal amount of £43,231,021; one had been refused, nominal value £150,000.

Does not that reply show that there is really no proper control being exercised if 115 out of 116 have been allowed, with £43 million as the nominal value and undoubtedly twice that amount as the market value? Is it not time this racket stopped?

No, Sir. It shows that applications have been made only in proper cases.