Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I move amendment No. 10:

In page 7, line 34, to delete “use its best endeavours to”.

The amendment seeks to delete from the legislation the words “use its best endeavours to”. Section 8(3) states: “In relation to the data to be collected by the Bank from an insurance undertaking under subsection (2), the insurance undertaking shall use its best endeavours to provide the information to the Bank in such a form so that no individual is identifiable from it”. That gives significant latitude to the insurance industry. It is not held to any standard in providing the information. As a company has the information, for what reason does the section state it “shall use its best endeavours” to provide it? It should read, “the insurance undertaking shall provide the information to the Bank in such a form so that no individual is identifiable from it”. Why are we letting insurance companies off the hook by allowing them to state they have used their best endeavours but that it was difficult and that they could not find the file? We should make it very clear insurance companies have a responsibility to provide the information in the required form.