PARLIAMENT.

Hawera Star, Volume XLVII, 30 November 1927, Page 3

PARLIAMENT.

HOUSE OF REPRESENTATIVES'

INSURJANCE COMPANIES’ DEPOSITS. (.BY TELEGRAPH—PRESS ASSOCIATION.) WELLINGTON, Nov. 28. When the House of Representatives resumed at 7.30 p.m., the debate on the Insult nee Companies’ Deposits Amendment Rill was continued by Sir Joseph Ward, who said it was not possible to compel one insurance company to make, a deposit with the Government a.s security to the policy-holders, and not another. Exception was the basis of injustice. He did not want to see Lloyds driven out of the country, and lie did not believe for & moment that Lloyds’ principals in London would object to what the Government was asking them to do. He congratulated the AttorneyGeneral upon his fair statement of the ease, t\ud the true outline of insurance business he gave. Mr. H. L. Tapley congratulated the Government upon at last becoming consistent. He had been wondering how long it would: be befois they were going to compel Lloyds to put up a. doposit.in exactly the same way as other offices. Lloyds were in some eases cutting rates, but this was not necessarily sound business. Cheap rates were in some cases more sweet than wholesome. What the Government had to guard against was more than one group of brokers doing business under the cover of a single deposit. Mr. J. A. Nash supported the Bill and Mr. V. H. Potter opposed it and urged that the Government should withdraw the measure and submit it to the consideration of a committee of the House so that the whole circumstances could be investigated. The Minister, in. reply, said no valid objection to the Bill had been raised. Lloyds’ representatives in London agreed to the principle of the Bill and the only question was what the amount of the deposit would be. On that point they were only asking all the offices to pay a similar amount. He agreed that the definition of “agent” was a little wide .and lie was prepared when in committee to move amendments that would meet the case. The Bill was read a second time on the voices. On the motion of the Hon. G. J. Anderson, Messrs. P. Fraser, J. Mason and the mover were appointed managers to draw up reasons for disagreeing with the amendments made bv the Legislative Council in the Rent Restriction Continuance Bill. RENT RESTRICTION AMENDMENTS. On the motion of the Hon. G. J. Anderson the amendments made by the Legislative Council in the Coal Mines Amendment Bill were discussed, but, owing to opposition to an amendment in sub-clause 2 of clause 2, by which miners’ wages were not made a first charge against the mines on which mortgages charges or encumbrances existed, the debate was adjourned, the Minister promising to look into the matter.

On the motion of the Prime Minister, the Public Works amendments made by the Legislative Council in the Motor Vehicles Amendment Bill were disagreed with, and Messrs. A. Hamilton, H. T. Armstrong and' the mover were appointed to draw up reasons.

The House went into committee on the Insurance Companies’ Deposits Amendment Bill, which was reported with amendments moved by the Minister.

The House then considered the Public Works Amendment Bill in committee. It was reported with one 1 small amendment. The- reports were agreed to- and the Bills were road a third time anti passed. . * Mr. J. A. moved the second read in tr of the Palmerston North Library li7inppwerm<r Bill. The Napier Harbour Board Empowering Bill was also read a. -seec-nd time and both Bills were put through the final stages and passed.

Tn moving the adjournment of the House t- Vo p p’ omised. in reply to the> Leader of the Opposition, to make a. statement to-morrow as to the business for the remainder of the session and the probable date of the session terminating. The House rose at 11.10 p.m. till 3.30 p.m. to-orrow.