§ 27. Mr. Greville Janner
asked the Secretary of State for Trade whether, in view of the report of the Consultative Committee of Accountancy Bodies, he will introduce legislation making parent companies liable for the debts of subsidiaries unless they register their intention not to be so.
§ Mr. Eyre
The most recent memorandum from the consultative committee of accountancy bodies recommended that parent companies should not be made liable for the debts of their subsidiaries. The Law Society's standing committee on company law and the Confederation of British Industry have expressed similar views. The insolvency law review Committee is expected to advise on this issue.