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:
For the record of the proceedings here, the insurance compensation fund, ICF, has multiple actors. To get to the core point for the Deputy, the High Court has a significant role in relation to administrators or liquidators. In this case, we are talking about an administrator. Amounts of money paid out of the ICF in relation to any insurer, be it a liquidator or an administrator, would be done with the approval of the High Court in accordance with-----