§ Mr. Moateasked the Secretary of State for Trade what actions have been taken by the Policyholders Protection Board with regard to the Fidelity Life Assurance Co. Ltd.; and if he will make a statement about the affairs of that company.
§ Mr. Clinton DavisThe Policyholders Protection Board has provided an indemnity under Section 15 of the Policyholders Protection Act 1975 to enable the provisional liquidator of Fidelity Life Assurance Limited to make interim payments to certain policyholders, and I understand that the special manager has already written to these policyholders to explain the arrangements. The board has not yet decided whether to exercise its powers to protect policyholders under Section 16 of the Act. The hearing of the petition, presented in the High Court on 28th July 1975, to wind up Fidelity Life has been further adjourned until 8th March 1976.