§ (1) The Insurance Commissioners shall periodically apportion amongst the several societies the sums by this Act directed be carried to the Contingencies Fund in the case of men in proportion to the number of contributions credited in respect of the members of those societies respectively who are men, and the sums by this Act directed to be carried to the Contingencies Fund in the case of women in proportion to the number of contributions credited in respect of the members of those societies respectively who are women, and the sums so apportioned to any society shall, with the proper proportion of the accumulations of interest on the amount from time to time standing to the credit of the Fund, form the Contingencies Fund of the society, and be available for meeting any deficiency of the society or of the branches thereof in manner hereinafter appearing, and no part of any surplus of any society or branch disclosed on a valuation shall be applied in meeting any deficiency in any other society or branch.
2033§ (6) If in the case of a society consisting of persons entitled to rights in a superannuation or other provident fund established for the benefit of persons employed by one or more persons the employer is responsible for the solvency of the fund, he shall not, in the event of a deficiency being disclosed on a valuation of the society, be required to make good the deficiency except in so far as the Contingencies Fund of the society is insufficient for the purpose, but save as aforesaid nothing in the provisions of this Section shall affect any obligation in relation to such a society undertaken by the employer whereby he becomes responsible for the solvency of the fund or for the benefits payable there out, or liable to pay a substantial part of or to make contributions towards or substantially to supplement the benefits payable out of the fund.
§ (7) The powers conferred by the proviso to Sub-section (1) of Section sixteen of the National Insurance Act, 1913, may, subject to the consideration by the National Health Insurance Joint Committee of any representations made by the governing body of the society, be exercised within six months after the passing of this Act in like manner as they are authorised to be exercised within six months after the passing of that Act, so, however, that any separation of funds required to be made in consequence of the exercise of the said powers under this Section shall not take effect until after the first valuation, and shall be carried out in such manner as the Committee may direct; and where, on a representation made within six months after the passing of the first-mentioned Act, the National Health Insurance Joint Committee have exercised in respect of a. society the powers conferred on them by that proviso, they may, on a representation being made within six months after the passing of this Act by the society, reverse their decision, if they are satisfied in manner provided by that proviso that the members of the society resident in the part of the United Kingdom affected desire the decision to be reversed, and that the governing body of the society assent thereto.
§ Lords Amendments:
§ In Sub-section (1), leave out the word "meeting" ["available for meeting any deficiency"] and insert instead thereof the words "making good."—Agreed to.
2034§ Leave out the words "in meeting" ["shall be applied in meeting"], and insert instead thereof the words "towards making good."—Agreed to.
§ In Sub-section (6), after the word "fund" ["solvency of the fund, he shall not"], insert the words "or for the benefits payable thereout."—Agreed to.
§ After the word "deficiency" ["make good the deficiency except"] insert the words "or to make up to their full amount the benefits payable out of the fund."—Agreed to.
§ Leave out the words "contributions towards" ["or to make contributions towards"], and insert instead thereof the words. "substantial contributions to."—Agreed to.
§ In Sub-section (7), leave out the word "representations" ["Committee of any representations made"], and insert instead thereof the word "submission."—Agreed to.
§ After the word "exercised" ["be exercised within six months"] insert the words "on representations made."—Agreed to.
§ Leave out the words "by the society" ["after the passing of this Act by the society"].—Agreed to.