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. Seamus McCarthy:
The events Mr. Creighton described were probably in 2018 or 2019, rather than 2016. I think the original development was 2016, but the difficulty arose later. In fact, I think it was an approach to the Central Bank that actually triggered queries in the first place. One of the great advances here was that this was quite a significant fund that was not amenable to transparency and accountability to the Oireachtas until the 2018 legislation was passed. That is an improvement.
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