asked the Minister for Industry and Commerce if he has found it possible to take any action to safeguard the interests of Irish Policyholders of the City Life Assurance Company, Ltd. (in liquidation), and whether he is satisfied that reasonable control over Industrial Assurance Companies now operating in Ireland, with a view to ensuring their solvency, is possible under existing legislation; or whether any legislation on the lines of the Industrial Assurance Act, 1923, passed by the British Parliament, is contemplated.
CEISTEANNA.—QUESTIONS. ORAL ANSWERS. - CITY LIFE ASSURANCE COMPANY, LTD. (IN LIQUIDATION). IRISH POLICY HOLDERS' INTERESTS.
TOMAS MAC EOIN
The Ministry has taken steps to keep in touch with the proceedings for the winding up of this Company, and have no reason to believe that Irish policy holders will be at any disadvantage as compared with other creditors in such proceedings. The necessity for promoting legislation on the lines of the British Industrial Assurance Act, 1923, is under consideration.