Did I correctly understand the Minister for Finance yesterday to say that in respect of any subsidiary company all information which is normally made available to the House about the parent company, such as names of directors, how they are appointed, their fees and names of other officers—an auditor is an officer —and such matters would be made available in just the same way as it is for the parent company?
Committee on Finance. - Sugar Manufacture (Amendment) Bill, 1962—Committee and Final Stages.
Sections 1 to 9, inclusive, put and agreed to.
SECTION 10.
Question proposed: "That Section 10 stand part of the Bill".
Exactly the same.
By whom are they appointed?
The directors will be appointed by the Board of the Sugar Company but must have the approval of the Minister for Finance.
In the past, it has been the practice to appoint somebody with a trade union background or who was in fact a trade union official. I trust that will be borne in mind by the Board and by the Minister when such appointments are being made.
I will convey that to the Board, anyway.
Question put and agreed to.
Sections 11 and 12 agreed to.
Title agreed to.
Bill reported without amendment, received for final consideration and passed.