(1) Section eleven shall have effect, and shall be deemed always to have effect, as if at the end of Sub-section (1) thereof there were inserted the following proviso—
'Provided that no goods shall be deemed to be insurable under this Part of this Act—
- (a) in relation to any person, being the owner of the goods, who carries on business as a seller of goods unless they are owned by him with a view to being sold, or to being used as material for the production of goods to be sold, or as ingredients or component parts of goods to be sold;
- (b) in relation to any person, being the owner of the goods, who carries on business as a supplier of goods, unless they are
1448 owned by him with a view to being supplied for the purposes of or in pursuance of a contract made by him for work, labour and materials, or to being used as material for the production of goods to be supplied as aforesaid, or as ingredients or component parts of goods to be so supplied.'
(2) Nothing in Sub-section (1) of this Section shall be construed as limiting the power of the Board of Trade under Sub-section (4) of the said Section eleven by order to direct that goods of any description specified in the order shall he deemed not to be goods insurable under Part II of the War Risks Insurance Act, 1939.—[Mr. Lyttelton.]
§ Brought up, and read the First time.
§ Mr. Lyttelton
I beg to move, "That the Clause be read a Second time."
It has always been accepted that the commodity insurance scheme should only cover stock in trade. In the course of the preparation of this Bill certain anomalies have been discovered. The object of this Clause is to exclude from insurance under the commodities scheme, for instance, the furniture of a furniture dealer in his office for use and not for sale.
§ Question put, and agreed to.
§ Clause read a Second time, and added to the Bill.