asked the Minister for Industry and Commerce if he will introduce legislation to control advertising for deposits and to govern the operation of unit trusts; and, if so, when.
Ceisteanna—Questions. Oral Answers. - Control of Unit Trusts.
32.
The question of regulating advertisements seeking money on deposit is at present under active consideration and it is hoped that it will be possible to reach a decision in the matter in the not too distant future.
I do not consider that there is any necessity to introduce legislation to govern the operation of unit trusts at this stage.
Is the Minister aware there is a certain amount of anxiety regarding the recent announcement about unit trusts operating here? Will he cause inquiries to be made in regard to the matter?
I have made inquiries. I thought the Deputy wanted to regulate the operation of unit trusts.
I am asking is the Minister aware that there is a matter of urgency in regard to this advertising for deposits?
I would imagine the urgency would arise if there were several such trusts. However, I shall keep the operation under review and will take appropriate action, if necessary.