§ Mr. JOHNSTONasked the President of the Board of Trade whether, arising out of the default of the Independent Order of Foresters, Toronto, Canada, to meet its obligations on insurance policies in this country, he can now say whether the order is registered for business in Britain; whether he has communicated with the Government of Canada or taken any other steps to protect the insured members of the order paying premiums in this country; and whether he proposes to take any steps by legislation to place all overseas offices doing business here under the same regulations as offices domiciled in Great Britain?
Mr.RUNCIMAN: So far as I am aware this society has met its obligations in respect of all policies issued since 1917. The steps which were taken by the society in 1913 and 1917 to meet deficiencies in its assets were taken in pursuance of special Canadian legislation. No communications on the subject were addressed to the Canadian Government at the time. The society is incorporated in Canada and is registered in the United Kingdom under Part XI of the Companies Act, 1929, as having a place of and carrying on business in this country. All assurance companies carrying on business within the United Kingdom, whether incorporated in this country or abroad, are already subject to the same statutory requirements.