§ Mr. THORNTONasked the President of the Board of Trade whether his attention has been called to the recent proceedings in the Court of Chancery in the matter of the One and All Assurance Association, in the course of which it was stated that 200,000 persons had subscribed a total sum of £58,000; that the benefits paid out amounted to £17,030 only, that the association had suspended payment of benefits, and that on the appointment of a receiver by the court no assets but furniture and printed matter were found; whether he was aware of the fact that the association was not registered as a friendly society, and that similar organisations also not so registered had subsequently been established, and were inviting contributions from the operative classes; and whether he will propose the incorporation in the Assurance Companies Bill of such machinery as will effectually regulate organisations of this class, or will take such other steps as may be best calculated to protect the industrial population from unsound schemes of insurance?
§ The PRESIDENT of the BOARD of TRADE (Mr. Churchill)My attention has been called to the case of the One and All Assurance Association, and to the proceedings in the Court of Chancery. I am advised that the provisions of the Assurance Companies Bill as drafted will deal effectually with associations of this kind, but if any doubt is felt on this point I will readily consider any representations which my hon. Friend may make to the Board of Trade on the subject. I should add, however, that there is very little chance of this Bill passing into law this Session unless there is a general wish on the part of the House to facilitate its progress.