§ Any assurance company which makes default in complying with any of the requirements of this Act shall be liable to a penalty not exceeding one hundred pounds, or, in the case of a continuing default, to a penalty not exceeding fifty pounds for every day during which the default continues, and every director, manager, or secretary, or other officer of the company who is knowingly a party to the default shall be liable to a like penalty; and if default continue for a period of three months after notice of default by the Board of Trade, which notice shall be published in one or more newspapers as the Board of Trade may, upon the application 260 of one or more policy holders or shareholders, direct, the default shall be a ground on which the Court may order the winding up of the company, in accordance with the Companies Consolidation Act, 1908.
§ Mr. CHURCHILLmoved after the word "officer" ["every director, manager, or secretary, or other officer"] to insert the words "or agent."
This Amendment will clear up the doubt which exists as to whether an agent is an officer or not. It makes it clear that he is an officer.
§ Clause 25 agreed to.