The people's insurance / explained by the chancellor of the Exchequer, the Right Hon. David Lloyd George.

  • David Lloyd George
Date:
1912
Catalogue details

Licence: In copyright

Credit: The people's insurance / explained by the chancellor of the Exchequer, the Right Hon. David Lloyd George. Source: Wellcome Collection.

Provider: This material has been provided by The University of Glasgow Library. The original may be consulted at The University of Glasgow Library.

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    missioners, substitute other securities for the securities for the tirne being deposited. (4) Any dividends or interest arising from securities deposited by an ap- proved society under this section shall be paid to the society. Provisions as to Approved Societies 26.—(i) Every approved society shall, as respects the administration of the affairs of the society under this part of this Act, make proper provision by rules to the satisfaction of the Insur- ance Commissioners for the govern- ment of the society, and if a society with branches— [a] for the government of the society ' and its branches; (&) for the determination of disputes arising betvi^een the society and any branch thereof, or between one such branch and another; (c) for the administration of benefits by the branches as respects in- sured persons who are members of such branches; (d) for the keeping of proper books of account by the branches in any case where separate ac- counts are usually kept by those branches; (e) for depriving of or suspending from the right of administering benefits under this part of this Act any branch which is guilty of maladministration of those benefits, or is convicted of any offence under any Act, and for providing in such a case for their administration by the society or otherwise. (2) Every approved society and every jranch thereof shall comply with any 'egulations made by the Insurance Commissioners as to the place in which meetings are to be held, and those regulations may provide for the use for such meetings, with or without pay- ment, of any oflices or other buildings under the control of a Government departinent (including offices or build- ings occupied by or in connection with a labour exchange) or belonging to or under the management of a local authority, but subject to the consent of the Government department or the local authority concerned. (3) Where under any Act regulating the constitution of an approved society the rules of the society are required to be registered, any rules approved under this section by the Insurance Commissioners shall forthwith be regis- tered, but until so registered shall have effect as if they had been duly regis- tered. Secessions, etc. 27.—(i) No branch of an approved society, having insured persons among its members, shall be entitled to secede or withdraw from the society without the consent of the Insurance Com- missioners; but such consent shall not be given unless the seceding or with- drawing branch complies with the conditions of approval requisite in the case of approved societies, and on any such consent being given the branch shall be subject in all respects to the provisions and requirements of this part of this Act relating to approved societies. Provided that such consent shall not be required if the branch makes provi- sion to the satisfaction of the Insur- ance Commissioners for the transfer to other approved societies or to other branches of the society from which it is seceding or withdrawing of such of its members as are insured persons.