COLONIAL MUTUAL.

Dominion, Volume 6, Issue 1568, 11 October 1912, Page 5

COLONIAL MUTUAL.

VICTORIAN BILL MODIFIED. By Telegraph—Press Association—CoDjrrleht Melbourne, October 10. The Legislative Assembly, on tho motion of the Premier, Mr. Watt, discharged, tho Colonial Mutual Assurance Society No. 2 Bill from tho notice paper. No. 1 Bill—a private measure—was then recommitted. At the third reading stage tho Premier stated that he was aware that Parliament was not prepared to pass the Bill the Government had introduced, as members considered it too drastic, and that the circumstances did not warrant the acute treatment proposed. He had received two applications signed by certain, of the original shareholders, representing seventy-five shares. Tho first was signed by Judge Docker, tho second by the Chief Justice of South Australia. The applications asked that an investigation, into the society's affairs should be conducted under a provision, of the Companies Act. Pour directors of tho society also approved of the appointment of inspectors to investigate.

After a general discussion, No. 1 Bill was amended to provide that the Gover-nor-in-Council shall appoint one more competent inspector to investigate during the present Parliament at least onco every two months, and report on the position of the society. Tho Bill has passed through all its stages, and been forwarded to the Council.