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Companies (Asset Stripping)

Volume 978: debated on Thursday 14 February 1980

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asked the Secretary of State for Trade if he is satisfied that there exist adequate provisions to prevent the asset-stripping of a company in a way that is detrimental to public employment policy.

I have no present intention to change the existing position, whereby there are no provisions in law to prevent a company realising its assets, although certain transactions may be set aside on winding up.