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Company Structure (Simplification)

Volume 961: debated on Wednesday 31 January 1979

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asked the Secretary of State for Trade whether, in view of the fact that 33 per cent. of all the inquiries being handled by the Department of Industry's small firms advisory centres from established businesses relate to help needed on Government regulations and similar matters, he will take steps to introduce legislation to introduce a simplified form of company structure with appropriately reduced requirements.

The Government are very conscious of complaints from smaller firms that they find some regulations and procedures time-consuming and difficult to deal with. But I am not aware that problems of this sort arise in relation to company law generally. The main concerns expressed by small companies relate to the disclosure provisions of the Companies Acts, on which my Department will shortly publish a consultative document.