asked the Minister for Industry and Commerce if he is aware that there is great uneasiness among policy holders in the Irish Assurance Company, Limited, regarding their position because of the failure of the company to continue collecting industrial branch premiums; and if he will state whether it is the intention of the company to lapse such policies as fall into arrears owing to agents not collecting premiums.

I am not aware that there is any uneasiness on the part of policy holders in the Irish Assurance Company, Limited, for the reasons mentioned by the Deputy. The company has, by announcement in the Press, advised its policy holders as to the procedure to be followed in the present circumstances.

Conditions under which a policy of industrial assurance may be forfeited are embodied in Section 66 of the Insurance Act of 1936, and, subject to the statutory provisions, it rests with the company to determine if it will avail of the Act to forfeit the policy in any particular case. I do not propose to intervene in the matter between the company and its policy holders.

The Minister must realise the uneasiness there is among small policy holders at being unable to pay their weekly contributions. What is to become of them if the dispute is settled to-morrow and they are in arrears to the extent of £2 or £5?

This is not a matter in which I have any official responsibility. I understand that in somewhat similar circumstances before—I mean a strike of the company's employees in Cork— it made arrangements with its policy holders for clearing off any arrears by weekly instalments.

The Minister is aware that under Section 66 of the Act the company is bound to collect weekly. Surely since the Government are the owners of 90 per cent. of the shares, they must take some responsibility.

So far as the law is concerned, the management of the company is entrusted to the board of directors.

But the Government controls 90 per cent. of the shares of the company.

The company cannot forfeit a policy except in accordance with the provisions of the Act.

What is to become of the large number of small policy holders making contributions of say a 1/- a week if their arrears run into £2 or £3? In that case they may have to forfeit their benefits owing to their being unable to pay off the arrears.

The company, by every possible means, tried to induce policy holders to continue their contributions weekly by sending them to the company's offices.

A large number of these policy holders are in the country and that would mean a 2½d. stamp each week. I suggest to the Minister that he should use every effort to try to bring about a settlement of the dispute seeing that he or the Minister for Finance appointed the directors.

That does not arise on the question.

Will the Minister say if he has received any complaint so far that policies have been lapsed?

No.