Section 1 Increase in maximum amount of insurance allowable on life of parent or grandparent.

In subsection (2) of the M1Industrial Assurance and Friendly Societies Act, 1948 (which imposes a fine of twenty pounds as the maximum sum that any person is to be entitled to recieve from any registered friendly society or industrial assurance company, either taken alone or when added to any sum or sums for the time being insured to be paid to that person on the death of any one of his parents or grandparents) and in the First Schedule to that Act (which concerns the making of payments referred to in the said subsection (2) of section two) “thirty pounds” shall be substituted for “twenty pounds”.

In the Second Schedule of the said Act of 1948 (which makes consequential amendments to the M2 Friendly Societies Act ,1896 and the M3Industrial Assurance Act , 1923) , after each reference to “section two of the Industrial Assurance and Friendly Societies Act ,1948”,the words “as amended by the Industrial Assurance and Friendly Societies Act , 1948 (Amendment ) Act, 1958”shall be inserted or added.