THE NEW ZEALAND GAZETTE. 557

mium Receipt Book, shall have been delivered to the
Commissioner or other officer duly appointed to receive
the same.

Assured when admitted to full benefit.
25. The sum assured under any life insurance policy
shall not be payable in full until the expiration of
twelve calendar months from the date of such policy;
and if the Insured shall happen to die within twelve
calendar months from such date, then one-half only
of the sum assured shall be payable; but if the
Insured shall happen to die within six calendar months
from such date, then no part of the sum assured shall
be payable, unless the Insured shall have died of any
of the following causes, namely, -accident, apoplexy,
cholera, typhus, or scarlet fever, then one-fourth part
of the sum assured.shall be payable.

Policies not voided by death during days of grace.
26. The sum assured under any policy will, subject to
the last preceding regulation, be paid in case of the
death of the Insured during the five days of grace,
notwithstanding the non-payment of the premium;
but the amount so remaining unpaid shall be deducted
from the sum assured at settlement.

Net value of policy.
27. The net value of any life insurance policy shall
be ascertained according to the rate of mortality of
either of those Tables known as "The Combined Ex-
perience" and "The Institute of Actuaries" Tables,
with interest at the rate of four per centum per annum.
Not less than four-fifths of the net value so ascertained
shall be allowed as the surrender value on any life
insurance policy.

Policy may be surrendered after three years' duration.
28. Any life insurance policy which has existed for
three years may be surrendered either as to the whole
or any part of the interest of the Assured in such
policy. The Commissioner shall thereupon grant to
the person entitled a paid-up policy (that is, a policy
exempted from any future payments) equivalent to the
then surrender value.

In case of default, paid-up policy to be issued on application.
29. On application by the Assured within three
months after any life insurance policy which has existed
for three years shall have lapsed by non-payment
of premiums, the Commissioner shall issue a paid-up
policy equivalent to the surrender value of the original
policy at the date of its lapse.

No medical fee or postage required.
30. Any person proposing to effect a policy under
the provisions of the said Acts shall provide, at his own
cost, such evidence of age as shall be required by the
Commissioner, but shall not be required to pay any
fee or fees for medical examination, or to pay the cost
of any additional inquiry which the Commissioner may
think fit to make with regard to his health, habits, age,
and occupation, or to pay any fee or fees for the issue
of any policy which may be made in accordance with
his proposal, or to pay any postage for the transmission
of his proposal, or for the transmission of any corre-
spondence arising out of such proposal or policy bet ween
him and the Commissioner.

Notice of assignment.
31. The right and interest in any policy may
be assigned, but notice of every such assignment shall
be given to the Commissioner, who shall acknowledge
thereon the receipt of such notice, and forward the
same to the person giving such notice. All such
notices shall be given in duplicate, accompanied by
a fee of 5s., to be sent direct to the Commissioner.

Commissioner may insert other conditions in policies.
32. In addition to the terms and conditions upon
the performance or happening of which policies issued
under the said Acts are under the said Regulations to
become void or to be subject to, the Commissioner may,
at the time of issuing any policy hereafter granted
under the said Acts, cause to be inserted in or indorsed
thereon any other terms and condition or conditions he
may think fit, upon the happening or performing of
which the said policy is to become void or is to be sub-
ject to, and any such policy shall be deemed subject to
such terms and conditions so inserted or indorsed.

Proof of death.
33. Death may be proved by production of the
following evidence :-
(a.) A certificate under the hand of the medical at-
tendant (if any) of the deceased during his or her
last illness, stating the date, and place, and cause
of death; and
(b.) An examined official or certified copy or extract
from the register or other official record of the
death or burial; or
(c.) A declaration, affirmation, or affidavit stating the
time, and place, and circumstances of the death,
and that no official record of the death or burial
is to be found; such declaration, affirmation, or
affidavit to be made in such form and manner that
the persons making them would, under the law of
the place where they are made (if there be any
such law) be criminally responsible if any state-
ment therein be false to their knowledge.

Proof of identity.
34. The identity of the deceased and the Insured
shall be proved by declaration, affirmation, or affidavit
made in the manner herein prescribed with regard to
declarations as to proof of death, and stating the know-
ledge or belief of the person making the same as to the
identity of the deceased, and giving with particularity
the grounds of such knowledge or belief.

Other proofs may be received.
35. The Commissioner may accept proofs of identity
or death other than as aforesaid, which shall to him
appear substantially sufficient for any of the said
purposes.

Claims may be paid without probate, &c.
36. The Commissioner may pay any claim under
a policy without requiring production of probate
or letters of administration, in accordance with the
following regulation, and he shall be thereby discharged
from all further liability in respect of the claim so paid.
All persons to whom any such moneys as aforesaid
are paid, shall apply the same in due course of adminis-
tration.

The sum assured, to whom payable.
37. The sum assured, upon the death of the Insured,
shall, upon satisfactory proof of his or her death, be
paid to his or her widow or husband; and if there be
no widow or husband surviving, to his or her surviving
child, if only one, or if children, to such children in
equal parts; and if there be no child surviving, then to
his or her father; and if there be no father surviving,
then to his or her mother; and if there be no mother
surviving, then to his or her surviving brother and
sister, or brothers and sisters, if more than one, in
equal shares, and if only one, the whole to such one;
and if there be no brother and sister, then to the
person or persons who shall appear to the Commis-
sioner to be entitled under the Statute of Distributions
to receive the same.