Oireachtas Joint and Select Committees
Wednesday, 9 July 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Collapse of Setanta Insurance: Central Bank and Department of Finance
4:20 pm
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
I anticipate that it will be quite a long period before this is resolved - to the end of the year or beyond. I am not sure if that is the Department's intention or expectation. There is an openness on the part of my party and, I presume, the Opposition towards changing the rules in respect of the unprecedented scenario of a company going into liquidation. At the end of the day, it would not cost the fund any more. It is just a case of cashflow within the fund. While it may not be available within the rules, we should be looking at changing the rules if needs be to deal with what was an unforeseen circumstance at the time the rules were drawn up.
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