Numb. 43.

555

SUPPLEMENT
TO THE
NEW ZEALAND GAZETTE.
Published by Authority.

WELLINGTON, WEDNESDAY, AUGUST 19, 1874.

Regulations respecting Government Industrial Insurance.

JAMES FERGUSSON, Governor.

ORDER IN COUNCIL.

At the Government House, at Wellington, this
twenty-ninth day of July, 1874.

Present:-HIS EXCELLENCY THE GOVERNOR IN COUNCIL.

WHEREAS by "The New Zealand Government
Insurance and Annuities Acts, 1869 and 1870,"
it is, amongst other things, provided that it shall be
lawful for the Governor in Council from time to time
to make any regulations for carrying the said Acts into
effect, and any such regulations to alter, amend, or
revoke; and also to regulate the mode and form of
making contracts under the said Acts as therein
respectively mentioned :

Now therefore, His Excellency Sir James Fergusson,
Baronet, the Governor of the Colony of New Zealand,
in exercise and pursuance of the power and authority
vested in him by the said Acts, and by and with the
advice of the Executive Council of the said Colony,
doth hereby make and ordain the regulations contained
in the schedule hereto annexed, for the purposes therein
set forth, that is to say,–

SCHEDULE.

Regulations only to apply to Industrial Policies.

1. These Regulations shall apply only to Industrial
   Policies, and the existing Regulations shall not apply
   to Industrial Policies.

2. No Industrial Policy shall be granted for a sum
   exceeding two hundred pounds, and only on the life of
   a member of Societies registered under "The Friendly
   Societies Act, 1867," or of the wife of such member.

Interpretation.

3. In the construction and for the purposes of
   these Regulations, and in all policies or instruments
   purporting to be made or executed thereunder (if not
   inconsistent with the context and subject-matter,) the
   following terms and expressions shall have the mean-
   ings hereinafter assigned to them, that is to say—

The expression "the Commissioner," shall mean
The Government Annuities Commissioner ap-
pointed and acting under the said Acts.

The expression "industrial," when applied to a
policy shall mean that such policy is one of a class
the premiums on which are payable weekly.

The term "policy," shall mean the written instru-
ment containing any contract whatever dependent
upon the contingencies of human life.

The expression "life insurance," when applied to a
policy, shall mean that such policy is payable
either upon the death of the Insured, whenever
that event may occur, or on his death if it happen
within a specified term, or before attaining a cer-
tain age, as the case may be.

The expression "the Insured," shall mean the per-
son upon the contingency of whose life the policy
is dependent.

The expression "the Assured," shall mean the per-
son by whom and for whose benefit the insurance
is effected.

The term "premium," shall mean the periodical
or other payment for any policy, or the purchase
money for such policy.

Governor may appoint Agents.

4. The Governor may from time to time appoint
   persons to receive moneys, also to receive proposals
   for insurance of lives or the grant of endowments or
   annuities, or for any other policies authorized by the
   said Acts, and such appointments may from time to
   time revoke or alter.

Agent.

5. Every person who may be so appointed is, through-
   out these Regulations, termed "the Agent," and his
   place of business "an agency."

Postmasters to supervise Agents.

6. The Postmaster at any Post Office may be ap-
   pointed by the Postmaster-General to supervise the
   work of any such Agent.

Duties of Agents.

7. The Agent appointed in any place as aforesaid
   shall in respect thereof strictly conform to these
   Regulations, and shall have no authority to alter or
   discharge contracts made under the said Acts or these
   Regulations, or in any way bind the Commissioner,
   except as herein provided.

Form of proposal.

8. Any person desiring to effect any transaction
   under the said Acts, shall make his proposal for the
   same in the form applicable thereto.