HC Deb 07 August 1850 vol 113 cc927-8

Order for Committee read.


begged to ask the right hon. Gentleman the Chancellor of the Exchequer whether he meant to be imperative in some clauses of this Bill, which would have a retrospective operation, and take away from friendly societies the advantages which they enjoyed under the Acts of George IV. and William IV.? He also wished to know if he would deprive them of the advantage of non-liability, and the power of assignment of life insurances?


said, he did not consider that what he proposed would have an ex post facto operation, because all that had been done up to this time he left precisely as it stood; but he proposed to take away for the future certain privileges which these societies had hitherto enjoyed.

House in Committee.

Clause 1 agreed to.

Clause 2.


said, a great many of these societies effected insurances on lives up to 5,000l., and at present the persons who received the money paid no legacy or probate duty. These societies had been instituted for the benefit of the lower classes; but, as often happened in such cases, persons of a higher class availed themselves of those benefits; and one of those societies, which numbered several wealthy persons amongst its members, had a very large sum invested with the Commissioners of the National Debt. One object of this Bill was to confine the benefits of those societies to the class for whom they had been designed; at the same time, it would carefully abstain from meddling with any existing society.

Clause agreed to. Clauses 3 to 7 were agreed to.

Clause 10.

MR. HENLEY moved that the salary of the registrar for England should be 800l.


would consent to the Amendment.

Clause agreed to.

Clause 11 struck out.

Clause 12 agreed to.

Clause 13.

MR. SOTHERON moved an addition to the clause, to enable friendly societies to lend money to a member on the security of a policy of insurance on his own life, such loan not to exceed the estimated value of the policy at the time of the lending of the money.

Clause, as amended, agreed to.

Clauses 14 to 37, inclusive, agreed to.

House resumed.

Committee report progress; to sit again To-morrow.

The House adjourned at ten minutes before Six o'clock.