Insurance Companies Amendment Act 1973

HC Deb 15 July 1974 vol 877 cc8-9W

Mr. Carter

asked the Secretary of State for Trade (1) if he is satisfied with the operation of the Insurance Companies Amendment Act 1973;

(2) if he will introduce amending legislation to deal with failures in the field of supervision and control of insurance companies.

Mr. Clinton Davis

My Department is making substantial use of the powers given by the Act, and further regulations are in the process of drafting. It is, however, too early to judge the full effectiveness of the Act.