§ 42. Mr. WILLIAM THORNE
asked what is the amount standing to the credit of the officials and agents of the approved section of the guarantee funds; and the amount that has been paid out, if any, in consequence of defalcations?
I assume that the hon. Member's question relates to the guarantee funds established by the several Commissions and by the Joint Committee, respectively, for the purpose of enabling approved societies to give the security required by the Commissioners under Section 26 of the National Insurance Act. The sum standing to the credit of the several societies contributing to the guarantee funds is £22,884. No amounts have been paid up to the present in consequence of defalcations, but several small claims have been received from approved societies. These claims are at present undergoing investigation, if and as soon as it is determined that the losses in question should be made good out of the guarantee funds, the claims will be paid in clue course.