§ 55. Mr. KIRKWOODasked the Financial Secretary to the Treasury if he will introduce an Amendment to the Industrial and Provident Assurance Societies' Acts providing that 75 per cent. of the premiums paid on lapsed policies should be returned to the policy holders in all eases of lapse after one year?
§ Mr. HORE-BELISHAThe subject of lapses and surrender values of policies was dealt with fully by the Industrial Assurance Committee, whose recommendations are now under consideration by the Government.
§ Mr. JOHN WILMOTWill the hon. Gentleman consider the urgent necessity of amending these Acts in view of the growth of undesirable practices which would be illegal under the Companies Acts?
§ Mr. HORE-BELISHAI think my answer covers that when I say that the report is under consideration.