xxx   DEPARTJIE_VT OF FI AVCE—IA'SURANCE BRANCH.

R'-iti..tnre'1 Bonds as Depo,h.—'Chen registered bonds are received as deposits they must be registered in the name of the Receiver General. Bonds registered in the came of a company, accompanied by an assignment in favour of the Receiver General, will not be accepted. -Chen registered bonds are intended to be used as a deposit, they should, before being forwarded to this department, he registered thus—in the name of "the Receiver General of Canada in trust for (■,'iris/ the name of the company) being part of the deposit made by the company with said Receiver General in pursuance of the Statutes of Canada in that behalf." (T. B., 13th July, 1591.)

Forriyn Municipal i5reiteitiss.—" The Board are of opinion that no municipal securities other than Canadian should be accepted for deposit under the Insurance Act." (T. B., 30th January-, 1594.)

LEGISLATION.

1—DOMINION LEGISLATION.

The following Acts were passed by the Dominion Parliament in the first session of 189 59 Victoria :-

1. An Act to amend the Act incorporating the Supreme Court of the Independent Order of Foresters.

This Act provides, among other things, for the making of a deposit with the Receiver General and the issue of a license to the society under the Insurance Act to carry on the business of life, sickness and disability insurance among its members on the assessment plan. The provisions of said amending Act and of the Insurance Act having been complied with a license was issued to the Society on the first day of May, 1896.

2. An Act to incorporate the Imperial Life Assurance Company of Canada.

This company has not yet taken the necessary steps to procure a license. 2—ONTARIO LEGISLATION.

Chapter 45 of the Statutes of the Province of Ontario for 1896, assented to 7th April,
1896, is as follows :

Au Act relating to the law of Insurance.

1. Section 5 of the Act passed in the 53rd year of Her Majesty's reign, chaptered 39, as amended by subsection 2 of section S of the Act passed in the 56th year of Her Majesty's reign, chaptered 32, is amended by adding thereto subsection 2 as follows :

(2.) This section applies as well to any policy issued before the 7th April, 1590, as thereafter, and also to declarations made on, or relating to, any such policy before or after the said date.

2. Section 6 of chapter 136 of the Revised Statutes, 1557, as amended by section 3 of an Act passed in the 51st year of Her Majesty's reign, chaptered '22, and by section 6 of an Act passed in the 53rd year of Her Majesty's reign, chaptered 39, and by section 5 of an Act passed in the 56th year of Her Majesty's reign, chaptered 32, and by section 12 of an Act passed in the 55th year of Her Majesty's reign, chaptered 34, is repealed and the following section is substituted therefor :

6—(l.) The assured may by an instrument in writing, attached to or endorsed on, or identifying the policy by its number or otherwise, vary a policy or a declaration or an apportionment previously made so as to restrict or extend, transfer or limit, the benefits of the policy to the wife alone or the children, or to one or more of them, or to the mother of the assured, as a beneficiary or sole beneficiary, although the policy is expressed or declared to he for the benefit of the wife and children, or of the wife alone, or of the child or children alone, or of the mother or for the benefit of the wife for life, and of the children after her death, or for the benefit of the wife, and in case of her death during the life of the assured, then for the child or children, or any of them, or for the benefit of any ope or more of the above mentioned persons for life, and, after his or their decease, for the benefit. of any one or more of the survivors ; or, although a prior declaration was so restricted ; and he may also apportion the insurance money among the persons intended to be benefitted ; and may, from time to time, by instrument in writing attached to or endorsed on the policy, or referring to the same, alter the apportionment as he deems proper ; he may also, by his will, make or alter the apportionment of the insurance money : and an apportionment made or altered by his will shall prevail over any other made before the date of the will, except so far as such other apportionment has been acted on before notice of the apportionment by will and whatever the assured may, under this section, do by an instrument in writing attached to or endorsed on or identifying the policy, or a particular policy or policies, by number or otherwise, he may also do by a will identifying the policy, or a particular policy or policies, by number or otherwise.

(2.) " Apportion " or "apportionment" in this section includes and authorizes any division, sub-division, re-apportionment, or disposition of insurance moneys or benefits among any of the class of persons who under this or any amending Act are entitled to be preferred to creditors of the