asked the Minister for Industry and Commerce if he will state the reasons for his selection of the proposed directors of the terminating company referred to in the Insurance (Amendment) Bill, 1938, and what experience of insurance business had these proposed directors.
Ceisteanna—Questions. Oral Answers. - Terminating Company Directors.
The gentlemen in question were selected on grounds of general suitability and business capacity. From his examination of the Bill the Deputy is doubtless aware that the conduct of new business will rest with the permanent company and that the terminating company will be concerned rather with the proper management of the transferred funds. So far as the directors of the terminating company are concerned the question of experience of insurance business did not arise.