§ Mr. Cryer
asked the Chancellor of the Exchequer if he will order an investigation into the recent rule alterations of the Provincial Building Society which enable pensions to be paid to directors and dependants and the defeat of an amendment which sought to reduce the £250 deposit required for candidates to the board.
§ Mr. Denzil Davies
No. The recent complete revision of the rules of the Provincial Building Society was passed by its members in accordance with the requirements of the Building Societies Act 1962. It is within the powers of the society to provide in its rules both for the payment of pensions to its directors and for the amount of any deposit required from candidates for election to its board.