Oireachtas Joint and Select Committees
Thursday, 20 April 2023
Public Accounts Committee
2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed)
9:30 am
Mr. Michael McGrath:
I am sorry; as I understand matters, the 2018 amendment was brought forward to try to simplify the framework and consolidate the actors. It took the responsibilities from the accountant of the High Court into the ICF fund of the Central Bank of Ireland in terms of issues around managing and maintaining the fund, preparing the accounts and so forth, as has already been stated.
The 2018 amendment did not change the role of a liquidator or an administrator - in this case, we are talking about an administration - in terms of access to the funds to run the business of trying to secure recovery of costs. That is the position.
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