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Wednesday, 24 November 1965

Mr CALWELL (MELBOURNE, VICTORIA) - I wish to ask the Prime Minister this question: Has he considered amendment of the Life Insurance Act to protect the interests of policy holders in assurance companies which are privately owned and where a proportion of profits is appropriated annually for the benefit of shareholders and where it is possible for the funds of policy holders to be misused by the companies' directors to protect the shareholders against loss? If so, is action to be taken and can the right honorable gentleman give details of whatever action may be proposed?

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