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Assurance Companies (Life Policies)

Volume 409: debated on Tuesday 10 April 1945

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asked the President of the Board of Trade the total number of life policies of the value of £1,000 or under estimated to be in force issued by assurance companies other than industrial assurance societies.

Under the Assurance Companies Act, 1999, life assurance companies are required to state, at least every five years, tile number of life policies and the total amount assured, but they are not required to state the amount assured under each policy or the total number of policies for £1,000 or less. There are about 6,250,000 current policies covering about £2,500,000,000, issued by companies established in the United Kingdom.


asked the President of the Board of Trade whether his attention has been drawn to the hardships suffered by patentees in having the period of time for which the patent was granted curtailed by reason of the war and whether steps will be taken to extend patents taken out during the war for the period of time during which the war has made them inoperative.

Under Section 18 of the Patents and Designs Act, a patentee, who has suffered loss or damage by reason of hostilities, may apply to the Court for an extension of the term of his patent. The Patents Committee, which I appointed fast year, have made an interim report dealing with this point, and I have arranged for this report to be published and for copies to be available in the Vote Office on Thursday next.

Is the right hon. Gentleman aware that these patentees have been deprived for nearly six years of the profits they were entitled to receive under their patents? Surely it is only fair that the time for which a patent is valid should be extended for a like period?

Perhaps my hon. Friend will read the report. This is a good Committee and they have gone into the matter very carefully.