§ Mr. BOOTHasked the object of transferring a certain amount each time a member of an approved society changes into another organisation; whether such changes will be permitted when of frequent occurrence, and what will become of the amount so transferred from time to time if the member decides to emigrate; and if such sum will in any case revert to the State?
§ Mr. LLOYD GEORGEIf an insured person above the age of sixteen passes from one approved society to another a liability is imposed on the latter society in respect of the benefits to be provided for him while the former society is relieved of an equal liability. It is therefore equitable to transfer with him a sum representing the amount (calculated on an actuarial basis) accumulated out of his past premiums to meet this liability. Emigrants are provided for in a similar way on a basis of reciprocity under Clause 26. No sum will in any case revert to the State.