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(4) The survey of buildings referred to in the last annual report, which is being undertaken tor the purpose of framing suitable insurance standards when sufficient data has been collected, is proceeding slowly, but the reports have already provided some valuable information as to the condition and resistance of buildings in the business blocks of Wellington. The Commission recognizes the urgency of completing the survey of buildings in areas which are considered most liable to shock, but more rapid progress is not possible until additional staff competent to undertake this expert work is available. (5) A considerable amount of the time of the Commission has been occupied in dealing with applications for insurance under the voluntary provisions of the Act (section 15). Many of these applications refer to types of property not insured against fire, but which are liable to earthquake damage. Risks of this class which are considered acceptable have been charged differential rates by the Commission, acting under the authority of subsection (3) of section 15. J. 11. Jeiiram, Deputy Chairman.

EARTHQUAKE AND WAR DAMAGE FUND (Under Earthquake and War Damage Act, 1944) Income and Expenditure Account fob the Year ended 31st March, 1945 £ s. d. £ s - d. Net premiums .. .. .. ■ • 320,273 15 6 Claims .. .. .. .. •• 811411 Interest .. .. .. •• 99,516 9 2 Salaries and overtime .. .. .. 2,042 U 0 Pees of members of Commission .. .. 125 0 0 Expenses of management .. .. .. 915 12 3 Discount allowed insurance offices .. .. 7,891 1 11 Balance transferred to Earthquake and War Damage Fund .. .. .. 408,734 15 7 £419,790 4 8 £419,790 4 8 Balance-sheet as at 31st March, 1945 Liabilities Assets £ s. d. £ s. d. £ 8> o. Balance as at 31st March, Government stock .. .. .. 4,270,000 0 0 1944 .. 3,972,477 18 8 Cash in Public Account to credit of Earthquake Net income for year ended and War Damage Fund .. .. .. fB,WO 15 10 31st March, 1945 .. 408,734 15 7 Interest accrued but not due .. .. 12,b58 18 1 1 4,381,212 14 3 Premiums accrued but not due .. .. 57,152 4 6 Discount due on accrued premiums .. 1,421 14 9 Sundry debtors .. .. .. •• 0 14 Premium and other deposits .. .. 5,247 10 9 £4,387,881 19 9 £4,387,881 19 9 19th June, 1945. T. L. Seator, Secretary. 1 hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. —Cyril G. Collins, Controller and Auditor-General.

Approximate Cost of Paper— Preparation, not given ; prinl iug (1,105 copies), £5.

By Authority: E. V. Paul, Government Printer, Wellington. —1945.

Price 3d.]

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