§ Mr. CASSELasked on what grounds it is proposed to exclude from the category of approved societies under the National Insurance Bill industrial assurance societies which distribute profits on their other business, but not profits arising from State insurance?
§ Mr. LLOYD GEORGEAs I have already pointed out, it will be possible under the Bill to utilise the organisation of an association not itself qualified to be an approved society to assist in the creation of a self-governing society on a mutual basis which would be so qualified.
§ Mr. CASSELWould it be possible even for an industrial insurance society which now pays profit out of funds, other than those which arise for State insurance to come in?
§ Mr. LLOYD GEORGEThere is nothing to prevent any citizen of this country from forming an association which as long as it complies with the conditions of the Bill 247 would become an approved society, and therefore industrial insurance companies would be in the same position as any other citizens in the country.
§ Mr. CHIOZZA MONEYWill the right hon. Gentleman do nothing to allow these companies and societies to use their offices, agents, and so forth to get hold upon the scheme in order to secure gain?
§ Mr. LLOYD GEORGEThat is what they could not do. They could not use any of the money for enhancing their profits for other parts of their business.