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:
That is the exact point I was going to make. The Insurance (Miscellaneous Provisions) Act 2022 required a report within six months of the first anniversary. The legislation came in last year. Therefore, by early 2024 there is to be a report from the Central Bank for the Department and Minister setting out its views on how the measures are operating. Obviously, having considered those views, the Department will make a recommendation to the Minister on whether further interventions are required. There is, I suppose, a review clause.
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