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Building Societies

Volume 976: debated on Tuesday 18 December 1979

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asked the Chancellor of the Exchequer how many building societies are currently registered with the Registry of Friendly Societies; and how many directors hold offices in these societies.

The number of building societies currently registered with the Registry of Friendly Societies under the Building Societies Act 1962 is 290. The total number of the directors of these societies is, on the basis of the figures contained in the latest annual returns submitted by the societies to the registry, 2,021. Figures are not available to show the total number of these directors who also hold some other office in their societies, but the number of directors who are also chief executives or secretaries of their societies is 157.

asked the Chancellor of the Exchequer (1) if he will now set up an inquiry into the influence of consumers on the operation of building societies; and if he will make a statement;(2) what steps he proposes to take to strengthen the position of the consumer in building society affairs.

I refer the right hon. Member to the answer I gave on 15 November 1979 to the hon. Member for Thurrock (Dr. McDonald).—[Vol. 973, c. 765.] I have no plans to set u pan inquiry.