S.I. No. 8/1923 - National Health Insurance. Small Societies' Valuation Deficiencies Regulations, 1923.

SAORSTÁT ÉIREANN. STATUTORY RULES AND ORDERS. 1923. No. 8.NATIONAL HEALTH INSURANCE.

SMALL SOCIETIES' VALUATION DEFICIENCIES REGULATIONS, 1923.

REGULATIONS, DATED 13TH APRIL, 1923, MADE BY THE IRISH INSURANCE COMMISSIONERS, WITH THE CONCURRENCE OF THE MINISTER OF FINANCE, UNDER SECTION 3 (4) OF THE NATIONAL HEALTH INSURANCE ACT, 1918 (7 & 8 GEO. V., c. 15).

WHEREAS it is enacted by subsection (4) of Section 3 of the National Health Insurance Act, 1918, that Regulations shall be made providing, in the case of Societies which, at the date as at which a valuation is made, have not joined an Association formed or recognised under that Section, and have less than 1,000 members (which Societies are in these Regulations referred to as "small Societies"), for applying pro rata to such extent, not exceeding one-half, as may be necessary, any balances of the Contingencies Funds of those Societies not required for making good deficiencies in those Societies under the said Section 3 towards making good pro rata the balances of the deficiencies remaining in the case of other such Societies after the application of the Contingencies Funds of those Societies in accordance with the provisions of the said Section:

AND WHEREAS a valuation of Societies was made as on the 31st day of December, 1918, and on such valuation it appeared that, in the case of small Societies, any balances of the Contingencies Funds of those Societies not required for making good deficiencies in those Societies under the said Section 3 are required to the extent hereinafter mentioned for making good such balances as aforesaid of the deficiencies of other such Societies:

NOW THEREFORE the Irish Insurance Commissioners, in exercise of the powers conferred on them by subsection (4) of Section 3 of the National Health Insurance Act, 1918, and of all other powers enabling them in that behalf, do hereby, with the concurrence of the Minister of Finance, make the following Regulations:—

1. These Regulations may be cited as the National Health Insurance (Small Societies' Valuation Deficiencies) Regulations, 1923.

2. In pursuance of the valuation of Societies, made as aforesaid, as on the 31st day of December, 1918, there shall be debited to each small Society having a balance of its Contingencies Fund not required for making good deficiencies in that small Society a proportion of such balance equivalent to £2 0s. 6½2d. per centum of such balance.

3. These Regulations shall not apply to a small Society consisting of persons entitled to rights in a superannuation or other provident fund established for the benefit of persons employed by one or more employers, if the employer, in addition to the contributions payable by him under the National Health Insurance Acts, 1911 to 1921, is responsible for the solvency of the Fund or for the benefits payable thereout, or is liable to pay a substantial part of, or to make substantial contributions to, or substantially to supplement the benefits payable out of the Fund.

Given under the Official Seal of the Irish Insurance Commissioners this 13th day of April, in the year one thousand nine hundred and twenty-three.

PIERCE KENT.

A person authorised by the Irish Insurance Commissioners to act on behalf of their Secretary.