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. John Hogan:
This was an oversight, unfortunately. The credit was not in place to sufficiently cover it. There was not an awareness when the request was made to the Central Bank of Ireland that the necessary credit was in place to allow for the cover to be there to enable that transfer to take place. As I said, it was regrettable; it should not have happened. It was indeed-----
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