§ MR. THOMAS O'DONNELL (Kerry, W.)
I beg to ask the President of the 1417 Board of Trade whether he has yet completed his inquiries as to the solvency of the Irish Provident Assurance Company; whether, during the past two years, a number of policy holders ceased paying their premiums owing to fears of the insolvency of the company, and these premiums are now withheld without any compensation whatever being given to the policy holders; and whether he will have this whole matter inquired into, and some reparation made to the people who have been thus defrauded of their money.
§ THE PARLIAMENTARY SECRETARY TO THE BOARD OF TRADE (Mr. KEARLEY,) Devonport
I must refer the hon. Member to the Answer given by my right hon. friend on the 2lst March last year to the hon. Member for Mid Tipperary† Since then no information has reached the Board of Trade that the Irish Provident Assurance Company are themselves carrying on life assurance business. Consequently the Board of Trade have no special powers with regard to the company. The only power vested in the Board of Trade for companies registered under the Companies Acts is that under Sections 56 and 57 of the Act of 1862 of appointing an inspector upon the application of members holding not less than one-fifth part of the whole of the shares of the company for the time being issued.