Registrar-Generals-Department-Annual-report-1960-1961 — Page 52

TABLE XI~~Contd.

Statutory

Name of Company

Deposit Required

Nature of Securities Deposited

Sincere Life Assurance Co., Ltd. ...

Tai Ping Life Insurance Co., Ltd.

200,000.00

134,033.06

$200,000 Deposit at call with H.K. & S. Bank, H.K. $134,033.06 Fixed Deposit with H.K. & S. Bank,

H.K.

A

United States Life Insurance Co. in the City

of New York Ltd.

200,000.00

-

I

West Coast Life Insurance Co.

200,000.00

Wing On Life Assurance Co., Ltd.

465

Notes:

200,000.00

$200,000 34% H.K. Govt. Rehabilitation Loan

1948

£6,875 Fixed Deposit with H.K. & S. Bank, H.K. $10,000 Fixed Deposit with H.K. & S. Bank, H.K. £5,000 34% War Loan, 1952 or after

$200,000 Deposit at call with H.K. & S. Bank,

H.K.

F

Middle Market Market Value

Price on 31.3.61

as at 31.3.61

$

200,000.00

134,033,06

80

160,000.00

£།

110,000.00

58

10,000,00 46,400.00

200,000,00

* Under the Life Insurance Corporation Act, 1956, of the Indian Legislature, the Life Insurance Corporation of India has taken over the entire business of the Bombay Life Assurance Co., Ltd. and the life insurance business of the National Insurance Co., Ltd. which, however, continues in existence as a separate entity carrying on other types of insurance business. The Life Insurance Corporation of India bas been exempted from having to maintain any deposit other than the said deposits of the Bombay Life Assurance Co., Ltd. and the National Insurance Co., Ltd. which are earmarked in respect of the life insurance business of these companies. The stocks com- prising the deposit of National Insurance Co., Ltd, are still registered in the name of the company, but a transfer has been executed in favour of the Registrar of Companies and forwarded to the Bank of England for registration. + Gross amount payable on outstanding policies at last actuarial valuation on 31.12.51.

These stocks are still registered in the name of the company, but a transfer has been executed in favour of the Registrar of Companies and forwarded to the Bank of England for registration.

CERTIFICATE OF THE DIRECTOR OF AUDIT

W. K. THOMSON, Registrar General, (Registrar of Companies). 6th September, 1961.

The above List of Deposits has been examined in accordance with Colonial Regulation 257. I have obtained all the information and explanations that I have required, and I certify, as a result of this audit, that in my opinion the List of Deposits is correct.

AUDIT DEPARTMENT,

Hong Kong, 20th September, 1961.

P. K. BOND, Acting Director of Audit.