HL Deb 01 May 1906 vol 156 cc374-5
THE EARL OF GRANARD

My Lords, I beg to move, on behalf of the Board of Trade, that the Motion standing in my name be agreed to.

Moved, "That a Select Committee be appointed to inquire and report what steps should be taken, by deposit of funds or otherwise, to provide adequate security for British policy holders in Life Insurance Companies which have their chief office outside the United Kingdom, but which carry on business in this country."—;(The Earl of Granard.)

LORD ASHBOURNE

I suppose the terms of the reference have been very fully and closely considered. It is most desirable that such an inquiry should take place, and recent events have rendered the necessity for inquiry more apparent; but on reading the Motion I was disposed to think the terms of reference somewhat narrow. They certainly might have been made wider with advantage, but I presume the Board of Trade are of opinion that the object aimed at will be attained under this reference.

THE EARL OF GRANARD

I can assure my noble and learned friend that the terms of the reference were very carefully considered by the President of the Board of Trade and other members of the Government before the Motion was placed on the Paper.

On Question, Motion agreed to.

Moved, "That the Lords following be named of the Committee; L. Balfour, L. Stanley of Alderley, L. St. Oswald L. Grimthorpe, L. Burghclere."—;(The Earl of Granard.)

On Question, Motion agreed to.

The Committee to meet on Monday next, at half-past Three o'clock, and to appoint their own Chairman.