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Accountancy Firms (Ec Directive)

Volume 124: debated on Monday 7 December 1987

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To ask the Chancellor of the Duchy of Lancaster what is the policy of Her Majesty's Government on the draft directive relating to outside investment in accountancy firms; when the directive will be considered by the Council of Ministers; and if his Department is treating this proposal as one which falls to be considered by majority vote under the Single European Act.

The eighth company law directive, which has been adopted, sets conditions for shareholdings in incorporated firms of auditors: I shall make an announcement later this week of the Government's proposals for implementing this directive.