PRIVATE INSURANCE COMPANIES.

Mt Benger Mail, Volume 17, Issue 850, 29 August 1896, Page 4

PRIVATE INSURANCE COMPANIES.

[From the Stab's Parliamentary Reporter.] WELLINGTON, August 21. The Premier moved the committal of the Private Benefit Societies Bill, which provides that all private benefit societies must register as friendly societies.—Sir R. Stout suggested an amendment of the Bill, so as to exempt existing societies. There were, he said, only two societies which required exemption viz., the Colonial Sugar Refining Company of Auckland and the Union Steam Ship Company's Benefit I Society. The headquarters of the former j were in Sydney, and it was an insurance as I well as a sick benefit society.—Mr Earnshaw submitted that Sir Robert had given strong reasons why these societies should be brought within the operation of the Bill. The men in these societies should have control of the funds they paid in, and not be compelled to submit to the terms of their employers.— Mr Duthie supported the Bill, and hoped that it would pass. Thc3e friendly societies were doing good work in providing for sickness and old age.—Mr Lewis asked why the banks were not included?—Mr Millar urged that there were at least a hundred societies of the kind referred to by Sir R. Stout, and to encourage them would ruin all the regular benefit societies in the country. —After further debate the Premier replied, saying that he saw nothing antagonistic in the Bill to the Sugar Company's Society. They should lay down the principle that there should be no private benefit societies. Banks were exempted because their charters were in other colonies. —ln committee the Premier moved to amend the interpretation clause so as to strike out the exemption of benefit societies connected with banking institutions. A lengthy discussion followed, several members contending that this would not bring benefit societies connected with banks under the provisions of the Bill, which was intended to be done by the amendment.—On a division the amendment was carried by 43 to 13.—After further discussion the Premier said he would add a proviso to the clause providing finally for neglecting to register. This proviso was to the effect that penalties shall not be enforced if an application has been made to the registrar and registration is deferred pending the decision of the registrar. This was agreed to, and some slight amendments made in the same clause. —The new clause added by the Labor Bills Committee, to the effect that members of private benefit societies shall have the option of remaining members after leaving the service of their employers, was agreed to, and the Bill as amended passed through committee.