HC Deb 29 May 1930 vol 239 cc1484-6
85. Sir B. PETO

asked the Financial Secretary to the Treasury whether, seeing that the Industrial Assurance Act of 1923 provides that notice of the rights of insurers under the Act must be given on all premium receipt books and on all policies issued after the 1st January, 1924, but does not provide that this information shall be given on forfeiture notices, he will take steps to ensure that insurance companies and friendly societies make the rights of policy holders to free policies and surrender values clear on all notices of forfeiture?


This would involve amendment of Section 23 of the Industrial Assurance Act, 1923. The suggestion will be borne in mind.


Could not the hon. Gentleman take steps by circular or otherwise, to bring to the attention of the insurance companies the desirability of adopting the measures indicated in the question in the interest of small insurers?


In the existing state of the law, I do not think that the suggestion of the hon. Member would be practicable.


Is the hon. Gentleman aware of the amount of the deposits forfeited in Central Nottingham?