asked the Secretary of State for Trade what action he proposes to take following the report of his inspectors into the collapse of London and County Securities.

I am advised that the police inquiries are nearing completion and that the Director of Public Prosecutions will be considering their report. If there are civil claims to be pursued, these fall to be dealt with by the respective liquidators of the companies concerned. So far as the supervision of secondary banks is concerned, preparations for the amendment of the Protection of Depositors (Accounts) Regulations 1963 are already in hand. In addition I am considering the implications of the report in conjunction with my ongoing review of company law.