Life Insurance Canada

xlii DEPARTMENT OF FINAXCE--IVs'URANCE BRANCH.

sured, or to apply the same in reduction of the annual premiums payable by the insured, in such way, as he may direct, or to add the said bonuses or profits to the policy ; and the company shall pay or apply such bonuses or profits as the insured directs, and according to the rates and rules established by the company ; Provided, always, that the company shall not be obliged to pay or apply such bonuses or profits in any other manner than as stipulated on the policy or the application therefor.

In the case of several actions being brought for insurance money, the court is to consolidate or otherwise deal therewith so that there shall be but one action for and in respect of the shares of all the persons entitled under the policy. If an action is brought for the share of one or more infants entitled, all the other infants entitled, or the trustees, executors, or guardians entitled to receive payment of the shares of such other infants, shall be made parties to the action, and the rights of all the infants shall be dealt with and determined in one action. The persons entitled to receive the shares of the infants, may join with any adult persons claiming shares in the policy. In all actions where several persons are interested in the money, the court or judge shall apportion among the parties entitled any sum directed to be paid, and shall give all necessary directions and relief.
The provisions of sections 16, 17, 18, 19, and 23 of this Act shall extend, and are hereby declared to have been intended to extend, and apply to cases where the insured lied before the passing of this Act, as well as to cases arising subsequent thereto.
No declaration or apportionment affecting the insurance money, or any portion thereof, nor any appointment or revocation of a trustee made after the passing of this Act, shall be of any force or effect as respects the company until the instrument, or a duplicate or copy thereof, is deposited with the company. AV-here a declaration or endorsation has been heretofore made, and notice has not been given, the company may, until they receive notice thereof, deal with the' insured or his executors, administrators, or assigns, in respect of the policy, in the same manner and with the like effect as if the declaration or endorsation had not been made.
If the policy was effected and premiums paid by the insured with intent to defraud his creditors, the creditors shall be entitled to receive out of the sun secured an amount equal to the premiums so paid, without interest.
Nothing contained in this Act shall be held or construed to restrict or interfere with the right of any person to effect or assign a policy for the benefit of the wife, husband, or children, or some or one of them, in any other mode allowed by law.
Where all the persons entitled to be benefitted, whether by original insurance, by written declaration, or by instrument of variation or apportionment, under any policy are of full age, they and the person insured may surrender the policy, or assign the same, either absolutely or by way of security.
Where any policy of insurance, or the declaration endorsed upon, or attached to, or identifying by its number or otherwise, any policy of insurance to which this Act applies, whether such declaration has heretofore been or shall hereafter be made, provides that the policy shall be for the benefit of a person. and in the event of the death of such person for the benefit of another person, such first mentioned person shall, if living, be deemed for the purposes of section 28 of this Act, the person entitled to be henefitted under such policy.
Sections 36, 37, 38, 39, 40, 41, 42, 43, 44, and 43 of the " Married \V-oman's Property Act" are hereby repealed, but such repeal shall not affect any rights arising under such repealed sections, or any of them.

Sections 36 to 44, inclusive of the Married Woman's Property Act, repealed by the above Act, will be found at page lxxxvii of the report for 1891, issued in 1892.

6.-NEW BRUNSWICK LEGISLATION.

Statutes of 1895, chapter 13. An Act to amend the Act 55 Victoria, chapter 4, intituled : " An Act to impose certain taxes on certain Incorporated Companies and Associations." Passed 5th March, 1895.

Be it enacted by the Lieutenant-Governor and Legislative Assembly as follows :

Notwithstanding anything contained in the Act of Assembly, 55 Victoria, chapter 4, intituled : " An Act to impose certain taxes on certain Incorporated Companies and Associations,- the taxes imposed on all insurance companies as mentioned in the said Act, shall be payable on the first juridical day in the month of June, in each year, and such taxes shall be for the year following the date on which the same are hereby made payable.

Statutes of 1895, chapter 22. An Act to further amend the Act 55 Victoria, chapter 4, intituled : " An Act to impose certain taxes on certain Incorporated Companies and Associations." Passed 5th March, 1895.

Be it enacted by the Lieutenant-Governor and Legislative Assembly. as follows :-

1. Subsection (2) of section 1 of the Act 55 Victoria, chapter 4, is hereby amended, by inserting he words " within this province '' after the word " reinsurance" in the eleventh line thereof.