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Company Acquisitions (Financial Assistance)

Volume 178: debated on Monday 29 October 1990

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To ask the Secretary of State for Trade and Industry how many prosecutions have been undertaken involving the use of section 151 of the Companies Act 1985; how many of such charges were subsequently dropped; and how many were ultimately successful.

To the Department's knowledge 19 charges have been brought under section 151 of the Companies Act 1985. In respect of six of these the judge ordered the jury not to bring verdicts and they were left on the file. The other charges have not yet come to trial.

To ask the Secretary of State for Trade and Industry whether he proposes to review section 151 of the Companies Act 1985.

I have received representations concerning section 151 and am considering them.