§ Sir B. PETO
asked the Financial Secretary to the Treasury whether his attention has been called to the fact that the lapsed policies of one industrial assurance company alone for the year 1928 totalled 1,140,000; and whether he is satisfied that surrender values paid by the insurance companies constitute a fair proportion of the sums assured?
§ Mr. PETHICK-LAWRENCE
The answer to the first part of the question is in the affirmative. With regard to the latter part, the surrender values which are required to be granted under the provisions of the Industrial Assurance Act, 1923, and the Industrial Assurance and Friendly Societies Act, 1929, are calculated on bases laid down in those Statutes.