Dáil debates

Wednesday, 28 September 2011

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages

 

6:00 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)

I thank the Minister for his reply and can see where he is coming from. Please God, no company currently trading will have to go into administration anytime soon, but there is obviously a benefit for a company that has more than 70% of its business in this State. I am worried about a company that might have, for example, 32% of its business outside the State. We live on an island that is partitioned. If a company in Monaghan or Donegal had 68% of its business in this State but 32% in the North of Ireland, it would not have the same support as a company in Cork that may have 70% of its business in the State. I am worried how the legislation we are introducing will affect the market in relation to that. Is this a State aid issue, as well? Does the Minister have any concerns over that, or perhaps there are no concerns? It seems, however, that we are not providing a level playing pitch for these companies. Maybe that is the only way the Minister can do it, but I am concerned by that aspect of the legislation.

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