Mr. Brendan O'Leary:

I wish to clarify as there are a lot of various levies swirling around. As the Minister of State outlined, section 5 provides the Minister for Finance with the powers to impose an ex ante levy on insurers who export their policies abroad. A number of firms are based here and sell motor insurance across the European Union. Again, the policy intent behind this to safeguard motorists and build up a pot of money to help cover off any potential insolvency event were that ever to happen. Separately, the insurance recovery and resolution directive will come from the European Union later this year and we will have to look at that. We expect it to be adopted later this year in November or December. Arising out of that, we need to see whether there any possible tail issues in terms of levies. In terms of the Deputy's specific question on current policy, there is the order of maybe two years left on the ICF and motor insurance insolvency compensation fund.