The policyholders who dropped money in Equitable Life shall have to wait till the next year earlier than they get any reimbursements as per the Government today.
The Treasury did also swayed warning signals that the complete size of the reimbursement fund should be measured in the light of what is reasonable as part of the expenditure in the October's review.
It might also be probable that the ultimate restoring vessel might be just one tenth of the part of the total that the policyholder deed group's approximation reasonable members have vanished.
The information came swarming as the Financial Secretary to the Treasury Mark Hoban initiated a bill to Parliament that shall facilitate recompense to be shell out to the policyholders.
Further he also declared that the details of the Independent Commission that has been set up by the Government to suggest it on the finest path to apportion payments to the group who had lost money in the league.
Mr. Hoban expressed that the commission should commence work in the pipeline, so that it should start churning out payments as early as possible, further he added that it is not projected to report back till the end of January next year.
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