In April 1931 a Departmental Committee was appointed by the Treasury “to examine and report on the law and practice relating to Industrial Assurance...”, and the statutory provisions relating to paid-up policies and surrender values under industrial assurance contracts have again come under consideration. The subject presents many difficulties but the technical considerations are of first importance and it is thought that, by discussion of those technical points with which the Institute is peculiarly qualified to deal, some guidance may be afforded to the larger public whose interests are neither those of the Government Departments nor those of the Corporations great and small which are engaged in the business of industrial assurance.