PART V.

Industrial Assurance Business.

48. —In this Part of this Act—

the expression “industrial assurance company” means an assurance company which carries on industrial assurance business;

the word “collector” means a person, howsoever remunerated, who makes house to house visits for the purpose of receiving premiums payable on policies of industrial assurance and includes a deputy of or substitute for any such person, and also includes a person who holds' any interest in a collecting book;

the expression “collecting book” means any book or document issued by an industrial assurance company and in the custody of a collector in which payments of premiums on foot of policies of industrial assurance are entered;

the expression “premium receipt book” means any book or document in which acknowledgments of the receipt of premiums payable in respect of a policy of industrial assurance are entered.

49. —(1) Where an assurance company, which formerly carried on industrial assurance business, has ceased, before the commencement of this Part of this Act, to carry on industrial assurance business, this Part of this Act shall apply to such company so long (if at all) as such company continues, after the commencement of this Part of this Act, to be liable on a policy of industrial assurance issued by it before such cesser.

(2) Where an assurance company, which, at or after the commencement of this Part of this Act, carries on industrial assurance business, ceases after such commencement to carry on industrial assurance business, this Part of this Act shall continue to apply to such company so long as such company continues to be liable on a policy of industrial assurance issued by it before such cesser.

(3) Whenever this Part of this Act applies to a company by virtue of this section, such company shall, during and for the purposes of such application, be deemed to be an industrial assurance company within the meaning of this Part of this Act.

50. —(1) Amongst the purposes for which industrial assurance companies may issue policies of industrial assurance there shall be included—

(a) the insuring of money to be paid for the reasonable expenses in connection with the death and funeral of any of the following persons, that is to say:—

(i) of a parent, son, daughter, grandparent, grandchild, step-parent, step-son, step-daughter, brother or sister of the person effecting the policy, or

(ii) of an uncle or aunt of the person effecting the policy, where such uncle or aunt at the time when the policy is effected resides with the person effecting the policy, or

(iii) of a nephew or niece of the person effecting the policy, where such person at the time when the policy is effected resides with such nephew or niece;

(b) subject to the provisions of the next following sub-section of this section, the insuring of money to be paid on the duration for a specified period of the life of a parent, son, daughter, grandparent, grandchild, step-parent, step-son, step-daughter, brother, or sister, or the insuring of money to be paid on the duration for a specified period of the life of an uncle, aunt, nephew, or niece of the person effecting the policy, who resides with such person or with whom such person resides, and in either case either with or without the payment of money in the event of the death of such person before the expiration of such period.

(2) No industrial assurance company shall insure on a policy issued under paragraph (b) of the next preceding sub-section of this section on the death of any person any sum exceeding a reasonable amount for expenses in connection with the death and funeral of such person, but in calculating such sum no account shall be taken of any repayment on such death of premiums paid in respect of an endowment or endowment assurance policy.

(3) Every person who effects a policy of industrial assurance under and in accordance with this section shall be deemed to have an insurable interest in the life of the person in relation to whom such policy was effected and no such policy shall be deemed to be an indemnity policy.

(4) Nothing in this section shall permit or extend to permit the assurance, whether by an industrial assurance company or any other person, of the life of any person under the age of ten years.

(5) Whenever the sum assured under a policy of industrial assurance (issued for a purpose for which industrial assurance companies may issue policies of industrial assurance under this section) does not exceed the sum of twenty-five pounds such sum shall be presumed to be reasonable.

51. —(1) Notwithstanding anything contained in the Life Assurance Act, 1774, as extended by the Life Insurance (Ireland) Act, 1866, it shall be lawful for an industrial assurance company to issue policies of industrial assurance on the life of a child under the age of ten years if, but only if, such policies are issued to a parent, grandparent, step-parent, brother, or sister of such child or to an uncle or aunt of such child if such child resides with such uncle or aunt at the time when the policy is effected.

(2) Subject to the provisions of this section, it shall not be lawful for an industrial assurance company to pay or undertake liability, by the issue of a policy or otherwise, to pay on the death of a child, under the age of ten years, any sum of money which, when added to the amount or the aggregate of the several amounts payable on the death of such child by another or other industrial assurance company or companies, exclusive of bonus or free paid-up policies, exceeds—

(a) if such child dies under the age of three years, the sum of six pounds, or

(b) if such child dies aged three years or more but less than six years, the sum of ten pounds, or

(c) if such child dies aged six years or more but less than ten years, the sum of fifteen pounds.

(3) In calculating in relation to any particular child the sum of money which is the maximum under the next preceding sub-section of this section, no account shall be taken of any repayment on the death of such child of premiums paid in respect of an endowment or endowment assurance policy.

(4) Subject to the provisions of this section, it shall not be lawful for an industrial assurance company to pay (otherwise than in respect of repayment of premiums paid on foot of and under an endowment or endowment assurance policy) any sum which becomes payable by such industrial assurance company on the death of a child dying under the age of ten years unless—

(a) such sum is paid under a policy which was effected on the life of such child and for which such company is liable, and

(b) such sum is paid either to the person who effected such policy or the personal representative of such person, or where there is no such personal representative, to one of the next-of-kin of such person who satisfies such industrial assurance company that he has defrayed or will defray the funeral expenses of such child, and

(c) except in the case of a free paid-up policy the person to whom such sum is paid produces to such industrial assurance company, before receiving such payment, a certificate of the death of such child issued by a registrar of deaths and complying with the provisions of the next following sub-section of this section.

(5) The following provisions shall have effect in relation to every certificate of death issued by a registrar of deaths where such certificate is applied for for the purpose of obtaining payment from an industrial assurance company of a sum of money payable by such company in pursuance of the next preceding sub-section of this section, that is to say:—

(a) the name of such industrial assurance company and the amount of the said sum of money shall be stated to such registrar of deaths by the applicant for such certificate;

(b) such registrar of deaths shall number consecutively every such certificate issued by him in respect of the death of the same child;

(c) such registrar of deaths shall write on every such certificate the words “To be produced to _________ said to be liable for payment of the sum of _________, exclusive of bonus or free paid-up policies,” the name of such industrial assurance company and the amount of the said sum of money respectively being inserted in the blank spaces in the foregoing form of words;

(d) the amount stated in any such certificate or certificates in pursuance of the next preceding paragraph of this sub-section shall not exceed in the whole the maximum sum, fixed by the first sub-section of this section, which is applicable to such child;

(e) such registrar of deaths shall not issue any such certificate unless there has been produced to such registrar on the registration of the death of the child to whom such certificate relates either the certificate of a coroner or of the registered medical practitioner who attended such child during his last illness stating the cause of the death of such child, or the certificate of a registered medical practitioner stating the probable cause of such death, or some other evidence, satisfactory to such registrar, of the cause of such death;

(f) if such certificate does not purport to be the first such certificate issued in respect of the child named therein, such industrial assurance company shall, before paying any money in respect of the death of such child, ascertain, as nearly as may be and by such inquiries as it thinks proper, the sums paid or payable by other industrial assurance companies in respect of such death and shall, in complying with the restrictions imposed by this section on the amount payable by an industrial assurance company, have regard to the sums so paid or payable, but shall disregard sums paid or payable on foot of bonus or free paid-up policies or in respect of the repayment of premiums paid on foot of endowment and endowment assurance policies.

(6) This section shall apply to payments under any policy (save as hereinafter mentioned) of assurance issued by an industrial assurance company whether the premiums on such policy are payable at intervals greater than, equal to, or less than two months, but shall not apply to payments under a policy effected by a person who had, when such policy was effected, an insurable interest in the life of the child to which such policy relates.

(7) For the purposes of this section a certificate of the death of a child dying under the age of ten years shall on application being made to a registrar of deaths in such form and manner as may be approved by the Registrar-General of Births, Deaths and Marriages, be issued by such registrar on payment of a sum not exceeding one shilling and such sum shall be in lieu of all other fees otherwise payable to or chargeable by such registrar in respect of such certificate.

(8) Whenever any application in the form and manner mentioned in the next preceding sub-section of this section is made for the purposes of this section to a registrar of deaths for more than one certified copy of the entry of the death of a child dying under the age of ten years every such certified copy (other than the first such copy) issued by such registrar in pursuance of such application shall be issued by such registrar on payment of a sum not exceeding six pence and such sum shall be in lieu of all other fees otherwise payable to or chargeable by such registrar in respect of every such copy other than the first such copy.

(9) Whenever a registrar of deaths is required by any person who applies to him for the purposes of this section for a certificate or certificates of the death of a child dying under the age of ten years to fill up the application mentioned in the two next preceding sub-sections of this section, such registrar may demand and take from such person a sum not exceeding threepence for so filling up such application.

(10) In this section, the expression “registrar of deaths” includes an assistant-registrar of deaths and any other person having custody of a register of deaths, and the expression “certificate of the death” means a certified copy of the entry of a death entered or registered in any register of deaths in the custody of a registrar of deaths.

52. —Every policy of industrial assurance which—

(a) is in force at the commencement of this Part of this Act, and

(b) would, at the date of the issue of such policy, have been valid if the provisions of this Part of this Act had been in operation at such date,

shall, for the purposes of this Part of this Act, be and be deemed always to have been valid and of full force and effect.

53. —(1) Every industrial assurance company which issues a policy of industrial assurance which is illegal or is ultra vires such company shall be deemed to have made default in complying with the provisions of this Act.

(2) Where an industrial assurance company issues or has issued a policy of industrial assurance which is illegal or is ultra vires such company, such company shall, without prejudice to any other penalty or liability thereby incurred, be liable, if such policy was effected before the commencement of this Part of this Act, to pay to the person entitled thereto a sum equal to the cash surrender value (to be ascertained in accordance with the provisions of this Part of this Act applicable thereto) of such policy, and, if such policy was effected after the commencement of this Part of this Act, to pay to the person entitled thereto a sum equal to the amount of the premiums paid on foot of such policy, unless, in either case, such company proves that owing to a false representation on the part of the person who effected or the person who made the proposal for such policy, such company did not know that such policy was illegal or ultra vires such company.

(3) Every collector of, and every person employed by, an industrial assurance company who assists in effecting a policy of industrial assurance which is illegal or ultra vires such company shall, unless he proves that he did not know and could not reasonably have known that such policy was illegal or ultra vires such company, be guilty of an offence under this sub-section and shall be liable on summary conviction thereof to a fine not exceeding five pounds.

54. —Industrial assurance business shall, for the purposes of the Act of 1909, be deemed to be a separate class of assurance business and accordingly the said Act shall apply to such business and have effect subject to the following modifications, that is to say:—

(a) the provisions relating to life assurance business of the said Act shall apply to industrial assurance business but with the modification that, for the purposes of such application, references in the said Act to “industrial assurance business” and “the industrial assurance fund” shall be substituted for references to “life assurance business” and “the life assurance fund” respectively, and

(b) where any expenses of management, or any interest or dividend from investments, or any sums on account of depreciation of securities are apportioned between the industrial assurance business and the life assurance business (if any) carried on by an industrial assurance company, the auditor of such company shall, when auditing the accounts thereof, include in his report on such accounts a special report as to the propriety or otherwise of such apportionment, and

(c) a copy of every report of the auditor of an industrial assurance company shall be furnished to the Minister.

55. —The following provisions shall have effect in relation to every valuation (in this Part of this Act referred to as an industrial assurance valuation) made by an industrial assurance company of its industrial assurance business at any time after the expiration of twelve months after the commencement of this Part of this Act, that is to say:—

(a) such valuation shall be made by an actuary;

(b) the basis of such valuation shall be such as to place a proper value upon the liabilities of such company, regard being had to the mortality experienced among the persons whose lives have been assured in such company, to the average rate of interest from investments, and to the expenses of management (including moneys paid by way of commission), and shall be such as to secure that no policy effected by such company shall be treated as an asset;

(c) subject to the provisions of the next following paragraph of this section, where the balance sheet of an industrial assurance company includes in the assets thereof any sums representing expenses of organisation, or of extension of the business of such company, or the purchase of the business or goodwill of any other such company, and the amount of such assets exclusive of such sums (after deducting debts due by such first mentioned company other than debentures and loans), is less than the amount (as the case may be) of the industrial assurance fund or of both the life assurance fund and the industrial assurance fund as shown in such balance sheet, the amount of the industrial assurance fund shown in the valuation balance sheet shall be reduced by whichever of the following amounts or sums is applicable in any particular case, that is to say, by the amount of the deficiency, or by a sum bearing such proportion to that deficiency as the amount of the industrial assurance fund shown in such first mentioned balance sheet bears to the aggregate amount of both the life assurance fund and the industrial assurance fund;

(d) the provisions of the next preceding paragraph of this section shall, in the cases and during the periods mentioned in this paragraph, apply to industrial assurance companies with such relaxations thereof as the Minister thinks fit to allow, that is to say:—

(i) in the case of an industrial assurance company in the balance sheet of which last issued before the commencement of this Part of this Act any of the sums mentioned in the said next preceding paragraph were included, during a period of seven years next after such commencement, and

(ii) in the case of an industrial assurance company which, after the date as at which the balance sheet of such company last issued before the commencement of this Part of this Act was made up, has, by reason of amalgamation with or transfer of business from any other industrial assurance company, become liable for the contracts and obligations or any of the contracts and obligations of such other company and has, in consideration of such liability, either accepted assets which include any of the sums mentioned in the said next preceding paragraph, or incurred expenditure by way of the purchase of the business or goodwill so mentioned, during a period of seven years after the 31st day of December next following the date of such amalgamation or transfer (as the case may be);

(e) where debentures have been issued or loans have been raised and such debentures or loans (as the case may be) are charged on any of the assets of an industrial assurance company in which the industrial assurance fund is invested, there shall be inserted in the valuation balance sheet a note giving the particulars of such charge and stating that the result shown by the valuation is subject to the liability under such charge.

56. —(1) Whenever the Minister is satisfied that the provisions of this Part of this Act in relation to any industrial assurance valuation have not been complied with, or that the industrial assurance fund of any industrial assurance company as stated in a valuation balance sheet of such company is greater than the value of the assets available for the liabilities of such fund, due regard being had to the other liabilities of such company and to the said provisions of this Part of this Act, the Minister may, subject to the provisions of the next following sub-section of this section, reject such valuation and may, subject as aforesaid, direct such company to make such alterations therein as may be necessary to secure compliance with the said provisions.

(2) Whenever the Minister rejects an industrial assurance valuation and gives a direction to an industrial assurance company under the foregoing sub-section of this section, the following provisions shall have effect, that is to say:—

(a) such company may, within one month after such rejection and direction, apply to the High Court for a declaration that such valuation complies with the provisions of this Part of this Act;

(b) the High Court, if it is satisfied that such valuation complies with the provisions of this Act (including this section) relating to such valuations, may make a declaration that such valuation so complies with the said provisions;

(c) whenever the High Court makes a declaration under this sub-section that an industrial assurance valuation complies with the provisions of this Act (including this section) relating to such valuations, such valuation shall, notwithstanding such rejection and the said direction by the Minister, be deemed to comply with the said provisions (including this section).

57. —The Minister may require an industrial assurance company to furnish to him, in addition to the information which every such company is required to furnish under the Act of 1909, all or any of the particulars mentioned in the Second Schedule to this Act, together with such explanations as he considers necessary to satisfy himself whether an industrial assurance valuation complies with the provisions of this Part of this Act relating to such valuations.

58. —Notwithstanding anything contained in section 5 of the Act of 1909, the first industrial assurance valuation of an industrial assurance company shall be made within two years after the commencement of this Part of this Act or within such longer period after such commencement as the Minister shall in any particular case appoint.

59. —Whenever the Minister is satisfied that an industrial assurance company which is a society, association, or other body incorporated or otherwise constituted under the law of a country other than Saorstát Eireann is unable to deposit with him an industrial assurance valuation or any valuation relating to life assurance business carried on by such company within the time when such valuation should be so deposited by such company the Minister may extend that time to any period not exceeding twelve months after the close of the period to which such valuation relates.

60. —Every industrial assurance company shall hold at least one general meeting of such company every year.

61. —(1) Every proposal for an industrial assurance policy shall, unless—

(a) such policy is proposed to be effected on the life and on behalf of a child under the age of sixteen years, or

(b) the person whose life is proposed to be assured under such policy is a person in whom the proposer has an insurable interest,

contain a declaration by the person whose life is proposed to be assured under such policy that such policy is proposed to be taken out by him and that the premiums thereon will be paid by him.

(2) Where the person whose life is proposed to be assured under an industrial assurance policy is a person in whom the proposer has an insurable interest, the proposal for such policy shall contain a statement of the nature of such interest.

(3) Every industrial assurance company which fails to comply with or to observe the foregoing provisions of this section shall be deemed to have failed to comply with the provisions of this Act and every collector or agent of such company who takes part or is concerned in such failure shall be guilty of an offence under this sub-section and shall be liable on summary conviction thereof to a fine not exceeding five pounds.

(4) Whenever a proposal for an industrial assurance policy contains a statement, which is not true in fact, that the person in respect of whose life such proposal has been made is not at the time of making such proposal a person on whose life any other policy has been issued by the industrial assurance company to which such proposal is made, and a policy of assurance on the life of such person is issued by such company in pursuance of such proposal, such company shall, notwithstanding that such statement is not true and that the truth of such statement is made a condition of such policy, not be relieved because such statement is not true from liability on foot of such policy.

(5) Whenever a proposal for an industrial assurance policy consists of a form of proposal filled in, wholly or partly, by a person employed by the industrial assurance company to which such proposal is made and a misstatement which is not fraudulent has been made in some material particular by the proposer and embodied in such proposal, the following provisions shall have effect, that is to say:—

(a) where such proposal has been filled in wholly by any person so employed, such company shall not be entitled to question the validity of the policy founded on such proposal on the ground of such misstatement so made by the proposer and embodied in such proposal, and

(b) where such proposal has been filled in partly by any person so employed, such company shall not be entitled to question the validity of the policy founded on such proposal on the ground of such misstatement so made by the proposer and embodied in such proposal unless such statement occurs in some part of such proposal which has not been filled in by any person so employed.

(6) Where, but for the provisions of the next preceding sub-section of this section, the validity of a policy issued by an industrial assurance company could have been questioned on the grounds of a misstatement in the proposal for such policy relating to the state of health at the date of such proposal of the person upon whose life such policy is proposed to be taken out, nothing in the said next preceding sub-section shall prevent such question being raised by such company within two years from the date of issue of such policy.

(7) Notwithstanding the provisions of this section, whenever a proposal for a policy of industrial assurance which was effected before the commencement of this Part of this Act contains an incorrect statement of the age of the person whose life is assured under such policy, the industrial assurance company which issued such policy may so adjust the terms of the policy, or of any policy which may be issued in lieu thereof, that such terms shall conform to the terms which would have been applicable if the true age of such person had been inserted in such proposal, and accordingly no industrial assurance policy issued before the commencement of this Part of this Act shall be invalidated on the ground that the age of the person in respect of whose life such policy was issued was incorrectly stated in such policy or in the proposal for such policy.

62. —(1) Every policy of industrial assurance issued after the commencement of this Part of this Act shall, subject to the provisions of this section, contain a copy of such of the provisions of this Act as shall from time to time be prescribed by orders made by the Minister under this sub-section.

(2) The Minister may, if he thinks fit, grant permission to an industrial assurance company to insert and every such company shall thereupon insert in every policy of industrial assurance effected by such company after the commencement of this Part of this Act a statement setting forth the effect of the provisions of this Act for the time being prescribed by order made under the next preceding sub-section of this section, and such insertion shall be in lieu of and be deemed to be a compliance with the obligation imposed on every such company by the said next preceding sub-section.

(3) Every industrial assurance company which, after the commencement of this Part of this Act, issues a policy of industrial assurance which does not comply with whichever of the foregoing sub-sections of this section is applicable to such company shall be deemed to have failed to comply with the provisions of this Act, and shall, without prejudice to the liability incurred in respect of such failure, either (at the election of the person who has paid the premiums due on foot of such policy) rectify such policy or pay to such person a sum equal to the amount of the premiums so paid, but such company shall not be liable further or otherwise to such person, and such premiums may be recovered by such person from such company in any court of competent jurisdiction.

63. —(1) The Minister may, if and whenever he so thinks proper, by notice in writing left in the case of an industrial assurance company which is registered in Saorstát Eireann, at the registered office of such company in Saorstát Eireann, and in the case of an industrial assurance company which is not registered in Saorstát Eireann, at the principal office of such company in Saorstát Eireann, require such company to delete or amend any term, condition, question, or provision contained in any form of proposal for a policy of industrial assurance issued by such company on or after the date specified in that behalf in such notice.

(2) The Minister may, if and whenever he so thinks proper, by notice in writing left in the case of an industrial assurance company which is registered in Saorstát Eireann, at the registered office of such company in Saorstát Eireann, and in the case of an industrial assurance company which is not registered in Saorstát Eireann, at the principal office of such company in Saorstát Eireann, require such company to delete or amend any term, condition, or provision contained in any form of policy of industrial assurance proposed to be issued by such company on or after the date specified in that behalf in such notice.

(3) Every industrial assurance company to which a notice is given by the Minister under this section shall forthwith comply with such notice and, for that purpose, do all such things as such company is required by such notice to do.

(4) Nothing in this section shall authorise or empower the Minister to require an industrial assurance company to alter either the premium payable under or the sum assured by or the date of maturity of a policy of industrial assurance.

64. —(1) Every policy of industrial assurance issued after the commencement of this Part of this Act shall be deemed to be made on the terms that the age, at the date of the issue of such policy, of the person in respect of whose life such policy is issued is admitted by the company issuing such policy to be the age stated in that behalf in such policy or, where such age is not stated in such policy, to be the age stated in that behalf in the proposal for such policy, and accordingly no industrial assurance policy shall be invalidated or questioned on the ground that the age of the person in respect of whose life such policy is issued is incorrectly stated in such policy or in the proposal for such policy.

(2) Whenever an industrial assurance company receives a proposal for a policy of industrial assurance and such proposal contains an incorrect statement of the age of the person whose life is thereby proposed to be assured, such company may, within twelve months after the date on which it receives such proposal, so adjust the terms of the policy issued or about to be issued in pursuance of such proposal as to make such terms conform to the terms applicable to the true age of such person.

(3) Where an industrial assurance company requires, as a condition precedent to the issue of an industrial assurance policy, that the age of the person in respect of whose life such policy is to be issued shall be verified by production of a certified copy of the entry of the birth of such person or other evidence, and such company defrays the cost of obtaining such certified copy or other evidence, such company may adjust the amount of the money payable by such company under such policy by deducting from such money the amount of the said cost so defrayed by such company, if, but only if, the proposal form contained a notice to the effect that the production of such certified copy or other evidence would be required as aforesaid and that the cost thereof, if defrayed by such company, would be deducted from the money payable by such company under such policy.

(4) Every registrar of births, every assistant registrar of births and every other person having the custody of a register of births shall, on an application being made to him by an industrial assurance company in such form and manner as may be approved by the Registrar-General of Births, Deaths and Marriages and on being paid by such company a fee not exceeding six pence for each certified copy, furnish to such company a certified copy of the entry of the birth of any person whose birth is registered in such register of births and in respect of whom a proposal for a policy of industrial assurance has been received or a policy of industrial assurance has been issued by such company.

(5) Every registrar of marriages, every deputy registrar of marriages and every other person having the custody of a register of marriages shall, on an application being made to him by an industrial assurance company in such form and manner as may be approved by the Registrar-General of Births, Deaths and Marriages and on being paid by such company a fee not exceeding one shilling for each certified copy, furnish to such company a certified copy of the entry of the marriage of any married woman or widow whose marriage is entered in such register and in respect of whom a proposal for a policy of industrial assurance has been received or a policy of industrial assurance has been issued by such company.

65. —(1) Subject to the provisions of this section, whenever an industrial assurance company or any person employed by any such company takes possession of a policy of industrial assurance or of a premium receipt book or of any other document issued by such company in connection with such policy, a receipt for such policy, premium receipt book or other document (as the case may be) shall be given by such company or person (as the case may be), and such policy, premium receipt book, or other document shall, unless such policy has been handed over or given up to such company by reason of payment of the sum assured, or of the cash surrender value of such policy, or of the issue of another policy in lieu thereof, be returned by such company or person (as the case may be) to the person from whom such policy, book or other document (as the case may be) was received within thirty days after such taking possession and may be so returned by delivery or by leaving for him at his last-known place of abode.

(2) Where possession is taken by an industrial assurance company of a policy of industrial assurance, or of a premium receipt book or of any other document issued by such company in connection with such policy for the purpose of legal proceedings by such company against a collector employed by such company, such company may retain such policy, premium receipt book or other document for such period, longer than the said thirty days, as may be necessary for the purposes of such proceedings but, where such retention is for a period longer than the said thirty days, such company shall give to the person from whom such policy, book or other document (as the case may be) was received a copy thereof certified by such company to be a true copy.

66. —(1) No person who has effected a policy of industrial assurance with an industrial assurance company (whether before or after the commencement of this Part of this Act) shall incur any forfeiture of such policy by reason of a default in paying a premium in respect of such policy unless a premium payable in respect of such policy is unpaid for not less than ten weeks after it became due.

(2) Where a policy of industrial assurance has become forfeited by reason of the non-payment of a premium payable in respect thereof, and it is shown that the collector was negligent or failed to exercise due diligence in the collection of such premiums during the period between the last payment of any such premium and the forfeiture of such policy, and within one year after such forfeiture all unpaid premiums in respect of such policy (including premiums which would have become payable if such policy had not been forfeited) are paid to the industrial assurance company by which such policy was issued, the said forfeiture shall be cancelled and the rights under such policy of the person who effected such policy shall become and be revived.

67. —(1) Whenever a policy of industrial assurance becomes forfeited after the 31st day of December, 1937, by reason of the non-payment of a premium payable thereunder, the person entitled to such policy shall on such forfeiture become entitled to the free paid-up policy hereinafter mentioned and the industrial assurance company which issued such forfeited policy shall, subject to the provisions of this section, issue as soon as may be after such forfeiture to the person entitled to such policy a notice that such policy has been converted into a free paid-up policy assuring the payment, in accordance with the terms (other than payment of premiums) contained in such forfeited policy, of a sum calculated in accordance with the rules contained in the Third Schedule to this Act.

(2) The next preceding sub-section of this section shall not apply to a policy which is not an endowment or endowment assurance policy issued on the life of a child aged less than ten years unless, before such forfeiture occurs, premiums have been paid on such policy—

(a) for not less than three years where such policy is issued after the commencement of this Part of this Act and assures the payment of money in connection with the death and funeral of a person other than the person effecting such policy and is either an endowment or endowment assurance policy for an original term of not less than sixteen years or is a policy for the whole term of life, or

(b) for not less than two years where such policy is issued after the commencement of this Part of this Act and assures the payment of money in connection with the death and funeral of a person other than the person effecting such policy and is an endowment or endowment assurance policy for an original term of less than sixteen years, or

(c) in any other case (but subject to the overriding limitation mentioned in this paragraph) for not less than the number of years stated in the second column of the Part of the Fourth Schedule to this Act applicable to such policy opposite the mention in the first column of the said Part of the said Schedule of the year in which such forfeiture occurs, subject to the overriding limitation that, where the minimum period of payment of premiums stated in the second column of Part II or of Part III of the said Schedule is greater than one-half of the original term of the policy, there shall be substituted for the number of years stated in the said column 2 in the said Part II or Part III (as the case may be) the number of years which represent and are one-half of the original term of the policy.

(3) Whenever a policy of industrial assurance, which is an endowment or endowment assurance policy issued on the life of a child aged less than ten years, becomes forfeited after the 31st day of December, 1937, by reason of the non-payment of a premium payable thereunder, there may, at the option of the person entitled to such policy, be paid to such person, in lieu of the free paid-up policy provided by this section, the cash surrender value of such policy calculated in accordance with the rules contained in the Third Schedule to this Act.

(4) Where the conditions of a policy of industrial assurance which becomes forfeited after the 31st day of December, 1937, by reason of the non-payment of a premium payable thereunder, confer on the person entitled to such policy rights in case of forfeiture thereof more favourable to such person than those conferred by this section, nothing in this section shall prevent or be construed as preventing any claim under those conditions instead of under this section.

(5) Where any benefits which are granted by an industrial assurance company under policies of industrial assurance are revised in favour of or to confer further benefits on assured persons with retrospective effect in whole or in part in relation to any such policies which are in force at the date of such revision, the rights of the persons entitled to such policies shall not, in case of forfeiture thereof, be more favourable to such persons than such rights would have been if such benefits had been attached to such policies at the date of the issue of such policies.

(6) Every premium receipt book issued after the commencement of this Part of this Act by an industrial assurance company shall have printed therein a notice setting forth the circumstances in which a policy of industrial assurance will become forfeited under this Part of this Act by reason of the non-payment of a premium payable thereunder and the rights under this Part of this Act in respect of such policy to a free paid-up policy or cash surrender value (as the case may require) in lieu of such forfeited policy.

(7) Whenever a policy of industrial assurance becomes forfeited after the 31st day of December, 1937, by reason of the non-payment of a premium payable thereunder, it shall be the duty of the industrial assurance company which issued such policy to supply, on application being made to such assurance company by the person entitled to such policy, information concerning the amount of the free paid-up policy or cash surrender value (as the case may be) to which such person became entitled on such forfeiture.

68. —(1) Whenever an industrial assurance company (in this section called the first-mentioned company) receives from any person a proposal for a policy of industrial assurance which to the knowledge of such company is, and the premiums which will be payable under a policy of industrial assurance issued in pursuance of such proposal are, intended to replace and be in lieu of a policy of industrial assurance and the premiums payable thereunder issued by another industrial assurance company (in this section called the second-mentioned company) and in force at the date of the receipt by the first-mentioned company of such proposal, the first-mentioned company shall (unless it refuses to entertain such proposal) within seven days after the receipt of such proposal send to the second-mentioned company a notice in the prescribed form and containing the following particulars, that is to say:—

(a) the terms of and the rights under the policy with the second-mentioned company, and

(b) the terms of such proposal, and

(c) the terms of and the rights under the intended policy with such first-mentioned company.

(2) Whenever any such first-mentioned company receives from any person any such proposal as is mentioned in the first sub-section of this section, such first-mentioned company shall not issue a policy of industrial assurance in pursuance of such proposal until the expiration of fourteen days after the receipt by such first-mentioned company of such proposal.

(3) Whenever any such first-mentioned company knowingly fails to comply with the provisions of this section, such first-mentioned company shall be deemed to have failed to comply with the provisions of this Act, and every collector or other officer of such first-mentioned company who takes part or is concerned in such failure shall be guilty of an offence under this section and shall be liable on summary conviction thereof to a fine not exceeding five pounds.

69. —Whenever an industrial assurance company pays a claim arising under a policy of industrial assurance, such company shall send by prepaid ordinary post from its registered or principal office (as the case may be) in Saorstát Eireann to the person to whom such claim is paid a statement setting forth the gross amount payable in respect of such claim, the amounts of all deductions made from such gross amount, and such particulars of every such deduction as may be necessary to explain clearly the grounds on which such deduction was made and the manner in which the amount thereof was calculated.

70. —Whenever the provisions of this Part of this Act require the value or the cash surrender value of a policy of industrial assurance (including an illegal policy and a policy which is ultra vires an industrial assurance company) to be ascertained, such value or cash surrender value (as the case may be) shall be calculated in accordance with the rules set out in the Third Schedule to this Act.

71. —(1) Where a policy of industrial assurance was effected before the 3rd day of December, 1909, and the person by whom such policy was so effected had, at the time such policy was effected, a bona fide expectation that he would incur expenses in connection with the death or funeral of the person whose life was assured by such policy, such policy shall not be deemed to be void merely on any or all of the following grounds, that is to say:—

(a) that the person who effected such policy had not, at the time such policy was effected, an insurable interest in the life of the person whose life was assured by such policy, or

(b) that the name of the person interested in such policy, or for whose benefit or on whose account such policy was effected, was not stated therein, or

(c) that the assurance was not one authorised by the Acts relating to friendly societies.

(2) Every policy of industrial assurance to which the foregoing sub-section of this section applies shall enure for the benefit of the person or of the assigns of the person for whose benefit such policy was effected.

72. —(1) Whenever any dispute arises between an industrial assurance company and any of the following persons (in this section referred to as the applicant), that is to say:—

(a) any person who has effected a policy of industrial assurance with such company or any person claiming through such person, or

(b) any other person claiming under or in respect of a policy of industrial assurance effected with such company, or

(c) any person claiming under or by virtue of any provision of this Part of this Act,

either such industrial assurance company or the applicant may, save as otherwise provided by this section and notwithstanding any provision to the contrary in the relevant policy of industrial assurance or in the articles or memorandum of association of such company, apply in a summary manner to the Circuit Court for the determination of such dispute, and thereupon the Circuit Court may hear and determine such dispute and may make such order as to costs as it thinks fit.

(2). Any such dispute as is mentioned in the next preceding sub-section of this section may, before any application has been made to the Circuit Court in regard thereto, be referred by the industrial assurance company and the applicant jointly to the Minister for determination or, where the legality of a policy of industrial assurance is not in dispute and neither fraud nor misrepresentation is alleged, be so referred by either the industrial assurance company or the applicant.

(3). When a dispute has been referred under this section to the Minister for determination, it shall not be lawful for any person to apply under this section to the Circuit Court for the determination of such dispute.

(4). When a dispute has been referred under this section to the Minister for determination, the Minister may determine such dispute and for that purpose may cause an inspector appointed by him to hold an inquiry in regard to such dispute and to report to him thereon.

(5). The following provisions shall have effect in relation to every inquiry which the Minister shall cause to be held under the next preceding sub-section of this section, that is to say:—

(a) such inquiry shall be held by the inspector appointed to hold the same at such time and place as such inspector shall appoint;

(b) such inspector shall cause notice of the holding of such inquiry to be given at least fourteen days before the holding of such inquiry to such persons concerned (including the industrial assurance company) as he thinks proper;

(c) such inspector shall have power to take evidence on oath and for that purpose to administer oaths and to require the attendance of witnesses and the production of documents.

(6) Whenever the Minister determines a dispute referred to him under this section, such determination shall be final and conclusive and no appeal to any court shall lie therefrom, but the Minister shall, at the request of any party to such dispute, refer any question of law arising in such dispute to the High Court for decision.

(7) Where an appeal from a decision of the High Court under the next preceding sub-section of this section is taken to the Supreme Court by an industrial assurance company, such company shall, whatever may be the result of such appeal or the determination of the Supreme Court thereon, be liable for and pay the costs of all parties to such appeal.

(8) Whenever the Minister determines a dispute referred to him under this section, the Minister may, if he thinks proper so to do, order the costs and expenses incurred by any person (including an industrial assurance company) of appearing or being represented or adducing evidence at any inquiry held under this section to be paid by any other person who appeared or was represented at such inquiry.

(9) Whenever the Minister orders under this section any costs and expenses incurred by one person to be paid by another person, such costs and expenses shall be taxed and ascertained by a taxing-master of the High Court on the requisition of either the person to whom or the person by whom such costs and expenses were so ordered to be paid, and the amount of such costs and expenses, when so taxed and ascertained, shall be recoverable as a simple contract debt in any court of competent jurisdiction by the person to whom such costs and expenses were so ordered to be paid.

(10) Whenever a dispute is referred to the Minister for determination under this section, there shall be paid to the Minister such fee as shall be prescribed by regulations made by the Minister under this section with the consent of the Minister for Finance, and such fee shall be paid by (as the case may require) the industrial assurance company which or the applicant who refers such dispute to the Minister or, where such dispute is referred by the industrial assurance company and the applicant jointly to the Minister by both such company and the applicant in equal parts, and the due payment of such fee shall be a condition precedent to the determination of such dispute by the Minister.

(11) All fees payable under the next preceding sub-section of this section shall be collected and taken in such manner as the Minister for Finance shall, from time to time, direct, and shall be paid into or disposed of for the benefit of the Exchequer in such manner as that Minister may direct, and the Public Offices Fees Act, 1879, shall not apply in respect of any such fees.

73. —Whenever any dispute or doubt arises whether a person on whose life a policy of industrial assurance was effected is alive the Minister may, if he thinks proper so to do, on the application of the person who is entitled to such policy or of the industrial assurance company which issued such policy, order that such company shall pay to the person who is entitled to such policy the cash surrender value, ascertained in accordance with the provisions of this Part of this Act, of such policy and, on payment of such cash surrender value by such company to such person, such order shall be a discharge in respect of all claims by or against such company in connection with such policy.

74. —(1) A collector employed by an industrial assurance company shall not be a member of the board of directors of such company and shall not hold any other office (except the office of superintending other collectors of such company within a specified area) in such company.

(2) A collector (including a person holding the office of superintending other collectors) employed by an industrial assurance company shall not attend or be present at any meeting of such company.

75. —(1) Neither an industrial assurance company nor any person employed by any such company shall employ any person who is not in the regular employment of such company to procure or endeavour to procure any person to enter into a contract of industrial assurance with that or any other industrial assurance company.

(2) Every person (other than an industrial assurance company) who employs another person to procure or endeavour to procure any person to enter into a contract of industrial assurance with an industrial assurance company shall be guilty of an offence under this sub-section and shall be liable on summary conviction thereof to a fine not exceeding ten pounds.

(3) Every person not in the regular employment of an industrial assurance company who procures or endeavours to procure any person to enter into a contract of industrial assurance with such company shall be guilty of an offence under this sub-section and shall be liable on summary conviction thereof to a fine not exceeding ten pounds.

(4) References in this section to regular employment shall include regular part-time employment as well as regular whole-time employment.

76. —Where any notice is required by this Part of this Act to be served by an industrial assurance company on any person who has effected a policy of industrial assurance with such company, such notice shall (save as is otherwise provided by this Act) be in writing and may be served by being delivered to such person or left for such person at his last known place of abode or sent by prepaid ordinary post addressed to such person at his last known place of abode.