COLONIAL MUTUAL LIFE.

King Country Chronicle, Volume VI, Issue 508, 12 October 1912, Page 5

COLONIAL MUTUAL LIFE.

INSPECTOR TO REPORT. By Telegraph.—Press Association—Copyright Melbourne, Thursday. The House of Assembly, on the motion of the Premier, discharged the Colonial Mutual Insurance Society, No. 2 Bill, from the notice paper. No. 1 Bill, a private measure, was then recommitted. At the third reading stage the Premier stated that he was aware that Parliament- was not prepared to pass the Bill which the Government had introduced, members considering it too drastic, the circumstances not warranting the acute treatment proposed. He had received two applications signed by certain original shareholders representing seventy-five shares, the first signed by Judge Docker, the second by the Chief Justice of South Australia, asking for an investigation of the society's affairs conducted under the provisions of the Companies Act. Four directors of the society also approved the appointment of inspectors to investigate. After a general discussion No. 1 Bill was amended to provide that the Go-vernor-in-Council shall appoint one more competent inspector to investigate and present to Parliament at least one every two months a report of the position of the Society Bill. It passed all tho stages and Was forwarded to the Council.