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Thursday, 10 May 1973
Page: 2004

Mr CREAN (Melbourne Ports) (Treasurer) - I move:

That the Bill be now read a second time.

The purpose of this Bill is to change the name of the Insurance Act 1932-1966 to the Insurance (Deposits) Act 1932-1973, to provide for the termination of the deposit requirement after the new system of supervision provided for in the Insurance Bill becomes fully effective and to provide for other matters consequential upon introduction of the Insurance Bill. Other than some minor drafting and printing changes, the Bill is the same as the Insurance (Deposits) BiN 1972, which was introduced into the House on 28th September 1972, but which was not debated and lapsed when Parliament dissolved. The Bill is commended to honourable members.

Debate (on motion by Mr Bonnett) adjourned.

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