A NEW MEASURE.

Manawatu Standard, Volume IV, Issue 271, 13 October 1884, Page 2

A NEW MEASURE.

Si a Julius Voohies Government Insurance Association Bill, which lie justly describes as one "of immense importance 11 was circulated among members of the Lower JHouse on Tuesday last, and several members expressed an opinion, which Mr Levkstam put m the form of an amendment, lost unfortunately on an appeal to the Voices, for an adjournment of the debate. The measure proposes to abolish the Government Insurance Office as a department, and to substitute a mixed board of management, of which there shall be eleven directors ; the Colonial Treasurer of the day being chairman. Four directors are to be permanent officers of the Government, three nominated by the Governor, and three to be elected by policy-holders of at least LI OO. The three nominated and the three elected directors are to be paid each LIOO per annum for their services, The board are to have the same powers as the Commissioner has at present. The accumulated funds may be invested m mortgages on freehold property. Lapsed policies may be revived by agreement between the holders and, the board, but as the bill does not say shall, but only may, the existing robbery of the public by lapses which really constituted a large proportion of the profits of both the Government Department and of private insurance companies is perpetuated- Major Atkinson supported the Bill, the second reading of which was carried on the voices.