Mr. POINTERasked whether a superannuation fund established by an employer which only provides disablement benefit could become an approved society under the National Insurance Bill without also making provision for sick benefits?
§ Mr. LLOYD GEORGEThe answer is in the negative.
§ Mr. JAMES THOMASasked whether a trade union, not at present providing similar benefits to those specified in Part I. 1058 of the National Insurance Bill, but willing to establish a section for the administration of such specified benefits and having 10,000 present members desirous of making it their approved society, will be eligible for approval under the scheme, and, if approved, whether such trade union will be required to deposit such sums as may be required by the Insurance Commissioners under Clause 20 (1) from its funds accumulated for other purposes, and, if so, whether it will be permitted, as its accumulations for purposes of this scheme grow, to substitute for such deposits from other funds its accumulations under this scheme; and, if approved under such conditions, whether the Government audit and control of its funds and administration would extend to the whole of its funds and activities or only to such portion of them as are established in respect of its approval under the National Insurance Bill?
§ Mr. LLOYD GEORGEA trade union, in the circumstances described, will be eligible as an approved society, and for the purpose of giving security would not be restricted to the method of depositing the necessary sums. The Government audit, and control to be established by Clause 28 of the Bill will only extend to the funds provided for the National Insurance.