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Wednesday, 7 December 1960

Mr HAROLD HOLT - I am not in a position to give a precise answer on points of detail raised in the question. The Government has recognized at all times that some of the life assurance companies would need a transitional period in order to satisfy the requirements which I indicated in general terms. Our intention is to provide such a transitional period in any legislation submitted to the House for its consideration. I have already told the House that the Government will bring the legislation forward in the next session, and I hope it will be introduced quite early in the session. I shall give thought to the points raised by the honorable gentleman's question, and shall see whether any more precise indication can be given before the legislation is introduced.

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