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:
Sorry, okay. As I understand it, it is in accordance with section 3 of the Insurance Act 1964, as amended by the 2018 Act. The approval is done that way. The administrator of the issue before them, in this case, Quinn, goes to the High Court, presents the case and seeks approval for funds to be taken out.