§ Mr. CousinsTo ask the Chancellor of the Exchequer what plans he has(a) to review the regulatory and core structure of low contribution home service endowment insurance policies and (b) to propose amendments to the Industrial Assurance Act 1923. [119215]
§ Mr. TimmsThe Government announced plans in June 1999 to amend the Industrial Assurance Acts 1923 and 1948. There has been useful recent consultation with the Association of British Insurers and the Association of Friendly Societies on the extent of the amendments. Following the amendments the FSA will regulate all home service business using its powers under the Financial Services and Markets Bill.