Pearse Doherty (Donegal South West, Sinn Fein)

The Minister will agree that the manner in which we are dealing with this legislation is unsatisfactory. Although his clock is ticking down to 4 October, we should have had an opportunity to listen to and digest his contribution and that of other Members, examine the legislation and, if required, present amendments. Asking us to table amendments last week before we had even heard him on Second Stage is unacceptable. It is the reason no amendments have been tabled.

I have a number of simple questions. First, I am not arguing about whether the exemption of the health levy should be included in section 2, but how many policyholders will the 2% levy affect? The Minister presented figures on the total estimated call - approximately €738 million is to be paid off by the 2% levy over 11 years. Some form of assumption is being used by the Department. Will the Minister provide me with the detail of how many policyholders this legislation will affect?

Second, what of the figure of €738 million? Given the Minister's comments of a few moments ago, I obviously had the wrong end of the stick. My understanding was that the €738 million accrued from the losses on the insurance policies held in the North and Britain and that the company was being split into two. Will the Minister clarify this matter? It is fine if this is not the case.

The administrator has not published the 2010 accounts. They will not be published until November. Should interim reports not have been published so that we might have scrutinised the loss in more detail?

On Second Stage I focused on the issue of the bondholder who has a call on assets worth €464 million within Quinn Group Property Holdings, a Quinn subsidiary. A deal is being arranged to pay off that bondholder, and I accept the Minister's point that it will not be the full €464 million. Is it a bondholder in Anglo Irish Bank or a bondholder in the Quinn Group that lent to Quinn Insurance? If the former, is it covered under the State guarantee? It is obviously a secured bondholder, given that it has Quinn assets as security. If the legislation passes, the bondholder will be paid €80 million next Wednesday and will have a call amounting to €120 million in respect of three hotels held by the Quinn Group. Is it a guaranteed Anglo Irish Bank bondholder that is to be paid off next Wednesday or is it a Quinn Insurance bondholder?

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