Protecting Life Insurance Policy Holdere.

Wanganui Herald, Volume XXXX, Issue 11976, 20 September 1906, Page 7

Protecting Life Insurance Policy Holdere.

Th« Preferential Debate.

Received September 20, 10.7 a.m. MELBOURNE, September 20. The new Life Insurance Bill provides that foreign companies opening business in the Commonwealth must deposit .£20,000 and existing companies deposit to the extent of two-thirds of the valuation of policies. When the latter deposit is made the original deposit of £20,000 may be withdrawn. The preferential debate is dragging along. The proposal has been criticised severely on both sides of the House. Mr McLean urged the Government to postpone the matter and formulate a scheme during the recess. In regard to the amount of preference shown to Britain, it was miserable. Other Protectionists suggested postponement till after the Imperial Conference, and the report of the Tariff Commission has been received.