REPORT OF THE b'UPERI TE DENT.   xxxi

assured ; and also includes and authorizes any disposition of the said moneys or benefits such as partly or wholly to divest the right, or to enlarge or diminish the interest of a beneficiary or beneficiaries acquired under any prior disposition of the said moneys or benefits, or such as to substitute one beneficiary of the said class for another, or others, or all others, or conversely.

Provided that the assured shall not by virtue of this section be authorized to divert the said moneys or benefits from all of the said class to a person not of the said class, or to the assured himself, or to his estate ; or to divert the said insurance moneys or benefits, or any part thereof, from the original beneficiary when the policy expressly states that that beneficiary was a beneficiary for valuable consideration.

13) This section applies not only to any future policy and to any declaration made on or relating to any such policy, but also to any policy heretofore issued and declaration heretofore made.

3. Subsection 2 of section 8 of all Act passed in the 56th year of Her Majesty's reign and chaptered 32, is amended by inserting after the words the said Act " in the first line of the said subsection, these words : " Passed in the 53rd year of Her Majesty's reign and chaptered 39."

¢--(1) Section 8 of chapter 136 of the Revised Statutes, 1887, is amended by striking out in the ninth and tenth lines, these words " the wife and children of the insured or one or more of them " and substituting iu lieu thereof, these words " any one or more of the class of persons who, under this or any amending Act are entitled to be perferred to creditors of the assured ; " and the said section is further amended by striking out all the words of the said section after the words "person so dying" inn the eleventh line of the said section, and substituting the following words in lieu thereof : " Shall be for the benefit of the survivor or of the survivors of such person in equal shares."

(2.) Subsection 2 of section 1.2 of the said Act, as added by section 7 of an Act passed in the 56th year of Her Majesty's reign and chaptered 32, is amended by striking out the word " the " in the first line of the said subsection and substituting therefor the word " any''; also, by inserting after the word " document " in the second line these words " relating to persons under incapacity; " also, by striking out in the fifth line the words "deceased at his death " and substituting therefor these words "the assured, at the maturity of the policy ;" also, by inserting after the word "infants" in the twelfth line thereof the words " or other beneficiaries under incapacity."

5. Section 21 of chapter 136 of the Revised Statutes, 1887, is repealed and the following section substituted therefor :

" 21. Until the insurer has received the original or a copy of any declaration, apportionment, will or other instrument or disposition in writing affecting the insurance moneys or any portion thereof, or of any appointment or revocation of a trustee, the insurer may deal with and obtain a valid discharge from the assured, or (as in the respective case may be) with and from his beneficiaries (such beneficiaries not being infants or under other incapacity), or with and from his trustees, executors, administrators or assigns in the same manner and with the like effect as if such declaration, apportionment, disposition, appointment or revocation had not been made."

6.—(1) Subsection 1 of section 38 of an Act passed in the 55th year of Her Majesty's reign and chaptered 39 is amended by striking out all the words of the said subsection up to and ineiulling the word " only " in the first line thereof and substituting therefor the following words : " This section shall not apply to corporations standing registered on the friendly society register, but shall apply."

(2.) Subsection S of the said section 38, as amended by section 10 of an Act passed in the 56th year of Her Majesty's reign, and chaptered 32, is further amended by adding at the end of the said subsection the following further proviso :

" Provided also that where it is shown to the satisfaction of the Inspector of Insurance that an insurance corporation standing registered on the insurance license register, but undertaking contracts of insurance with its own members only, cannot (owing to its organization on the lodge plan or to other special circumstances) register its agents individually, then on payment to the Provincial Treasurer of such commuted fee as the Inspector of Insurance shall in writing under his hand, certify to be in his opinion just and reasonable, and as shall be approved of by the Provincial Secretary, and upon an agent's certificate of registry being issued to the said corporation, the officers and the members of the said corporation and of its lodges, branches or divisions, if any (by whatever name known), shall be deemed to be severally registered as insurance agents of the said corporation within the meaning of this Act for the term mentioned in the said certificate."

3—QUEBEC LEGISLATION.

Statutes of 1895, Second Session, Chapter 3I. An Act respecting Benevolent and Mutual Benefit Associations and Mutual Insurance Companies.

(Assented to 21st December, 1895.)

Her Majesty, by and with the advice and consent of the Legislature of Quebec, enacts as follows :

1. The following section and articles are added after article 5375 of the Revised Statutes :