THE COLONIAL MUTUAL.

Taranaki Daily News, Volume LV, Issue 123, 11 October 1912, Page 5

THE COLONIAL MUTUAL.

NEW PROPOSAL ADOPTED. N

By Cable—Press Association—Copyright.

Melbourne, October 10. The 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 tnen recommitted. On the third reading stage, the Premier stated that he was aware that Parliament was not prepared to pass the Bill the Government had introduced, members considering it too drastic, the circumstances not warranting the acute treatment proposed. He has received two applications, signed by certain of the original shareholders, representing seventy-five shares, the first signed by Judge Docker, and the second by the Chief Justice of South Australia, asking that the investigation of the society's affairs should be conducted under the provisions of the Companies Act. Four directors of the society also approved of the appointment of.inspectors to investigate the matter. After a general discussion, No. 1 Bill was amended to provide that the Governor-in-Council appoint one or more competent inspectors to investigate and to present to Parliament, at least once every three months, a report of the position of the society. The Bill was passed through all stages and forwarded to the Council.