LEGISLATIVE COUNCIL
Tho Legislative Council met at 2.30 p.m. to-day. The Insurance Companies Deposits Amendment Bill was reported from tho Statutes Revision Committee with a minor amendment.
In. Committee on the Bill, the Hon. L. M. Isitt expressed the opinion that justice was not being meted out to Lloyd’s as a result of the pressure that had been brought to bear on the Government by the Insurance companies. A veal opportunity should be afforded to Lloyd’s to place their case before the Legislature®* He a.sked what reason there was for pushing the Bill through this session, and not affording a proper opportunity to Lloyd’s to state their case. He understood that ihe Bill would subject Lloyd’s to severe hardships, in that each agent would have tp mako a. deposit of £20,000. J The Leader of the Council (the Right Hon. Sir Francis Bell): “You are quite wrong.” Sir Frauds Bell pointed out that tho Bill had been proposed last year. All that Lloyd’s need do was to have one agent in the Dominion, a man who would pay the deposit, and he could have sub-agents. The Statutes Revision Committee had extended the date for the payment of the deposit to 31st March. The Bill or lv asked Lloyd’s to do exactly what other insurance companies did.
Tho Hon. IT. L. Michel asked why Lloyd’s should he put on a different footing to the New Zealand companies. The Insurance Companies Deposits Amendment Bill was put through the final stages and passed with the amendment made by the committee. The new amendment was proposed by the Hon. T. S. Weston and Sir Francis Bell intimated that if lie considered it necessary he would introduce it by GovernorGeneral’s message. ■ The request by tho House for a conference on the Rent Restriction Continuance Bill and the Coal Mines Amendment Bill was agreed to and the erai ference armn.ged. The Licensing Amendment Bill was received from tin? House and read a first time.
The Contributory Negligence Bill (the Hon. J. MacGregor) was put through its final stages and passed without amendment.
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Nelson Evening Mail, Volume LXI, 2 December 1927, Page 7
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346LEGISLATIVE COUNCIL Nelson Evening Mail, Volume LXI, 2 December 1927, Page 7
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