I am not sure about the £3,000 that the registrar has the right to release to the next of kin of a deceased without probate or letters of administration. There are a very limited number of depositers under £3,000. What would the qualification be of a next of kin to make application direct to the registrar if the figure was in the region of £8,000, £9,000, £10,000?
Building Societies Bill, 1980: Committee and Final Stages.
Section I agreed to.
SECTION 2.
Question proposed: "That section 2 stand part of the Bill".
In reply to Senator Reynolds, £10,000 is too large an amount. I could not recommend that but I will bear the Senators remarks in mind and convey them to the registrar for sympathetic consideration.
Question put and agreed to.
Sections 3 to 5, inclusive, agreed to.
Title agreed to.
Bill reported without amendment, received for final consideration and passsed.