§ MR. LAWRENCE (Liverpool, Abercromby)I beg to ask the Under Secretary of State for India whether the Secretary of State for India in Council has had under consideration the expediency of applying to those Indian Railway securities which are authorised trust investments, and carry a guarantee by the Indian Government, the provisions of the Forged Transfers Acts, 1891 and 1892; and whether he is aware that, for a premium of £500 a year, those Companies can collectively obtain insurance against any probable loss?
MR. GEORGE RUSSELLThe question of applying the provisions of the Forged Transfers Acts of 1891 and 1892 to the guaranteed Indian Railway Companies has been under the consideration of the Secretary of State in Council. An offer to insure these Companies from loss by forged transfers for an annual payment of £500 has recently been brought to the notice of the Secretary of State, who is awaiting the necessary communications on the subject from the Boards of the Companies.