THE COLONIAL MUTUAL.
AN INVESTIGATION RECOMMENDED. By Cable—Press Association —-Copyright. Melbourne, September 20. In the Assembly the Premier, in introducing a Bill providing for the investigation of the affairs of the Colonial Mutual Life Society, said the charges against the society were grouped under three headings, gross irregularity, fraudulent practices with regard to an election, aiyl that the society had got into a financial position, amounting almost to insolvency. The proposed procedure was unparalleled and the position was unparalleled. The directors of the society, without legal authority, had been administering affairs in which upwards of 100,000 people were interested and involving assets of over £3,000.000. The Bill provided for a special inspectorial inve-tigatioii and tlie suppression of the board of directors, a temporary board being appointed while the enquiry is proceeding. He promised, provided the society laid before the (iovernnienfc representations considered sufficient, he would move that the directors be heard at the j bar of the House to-day. ! The debate was adjourned.
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Taranaki Daily News, Volume LV, Issue 112, 27 September 1912, Page 5
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163THE COLONIAL MUTUAL. Taranaki Daily News, Volume LV, Issue 112, 27 September 1912, Page 5
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