§ Mr. GINNELLasked the Secretary to the Treasury the result of any inquiry made by the Insurance Commissioners regarding the solvency of the Guardian Bank before approving the Irish Mutual Assurance Collecting Society which the manager of that bank and his clerk are trying to establish at 65, Dawson Street, Dublin; whether any commercial man in Dublin consulted as to the solvency of that bank has given an affirmative answer; and what security the Commissioners have obtained for the proper working of the society mentioned under the National Insurance Act?
§ Mr. MASTERMANThe Irish Mutual Assurance Collecting Society, a separate section of which has been approved by the Irish Commissioners, is a body distinct from the Guardian Bank. The Commissioners were therefore under no necessity to investigate the solvency of that bank, which can have no effect upon the funds of the separate section formed by a different society. No advance of funds will be made to the approved society now in question, or to any other, until proper security has been given as required in Section 26 of the Act.