Billy Kelleher (Cork North Central, Fianna Fail) | Oireachtas source

I should have anticipated the reply of the Minister of State. This is fundamental for a number of reasons. Section 8(4) states: "Notwithstanding anything contained in the Data Protection Acts 1988 and 2003, but subject to this section, a person who receives a request made in accordance with subsection (1), (2) or (3) shall comply with that request and shall do so in accordance with an agreement entered into under subsection (5) between the person and the person who made the request." The difficulty between personal data and sensitive personal data is that the definition of what is sensitive can be interpreted in various guises. The Data Protection Commissioner has looked at this and we have discussed it. Legislation is in place. People should be informed about precisely what data can be transferred between various agencies. I am all for ensuring we have efficiency in the public sector in assessing criteria and delivering services. Making sure various Departments and agencies talk to each other about rights and entitlements is a good thing, one could argue. However, equally, citizens should be clearly informed when making an application as to the information that will be transferred to other Departments. A person should be informed that sensitive data can be transferred so that he or she has the right to make an informed decision on whether to make an application for a medical card on the basis of a request for information that may be passed on to other agencies.

I am satisfied that there are adequate measures in place to protect depositors in the institutions covered by the Deposit Guarantee Scheme (DGS), which is funded by the credit institutions covered by the scheme and is backed by the Exchequer. The Financial Services (Deposit Guarantee Scheme) Act 2009 provides for the operation of the Deposit Protection Account (DPA). Credit Institutions are required to maintain a balance in the DPA equivalent to 0.2% of their total deposits (subject to a minimum of €50,000 for each bank or building society). The total balance in the DPA was €388m at end December 2012 and has reduced to €379m following compensation payments to IBRC depositors.

In the event of a credit institution being unable to repay deposits, the Central Bank is authorised to make compensation payments to eligible depositors to a maximum of €100,000 per person per institution. The cost of compensation payments is charged against the balances in the DPA. In the event that the cost of compensation exceeds the balances in the DPA, the 2009 Act provides for the Central Bank to be reimbursed from the Central Fund within 3 months, subject to my approval.

Subsequently, credit institutions would be required to replenish the DPA and to repay the government for amounts advanced to cover the immediate cost of compensation. I am authorised to specify the period for repayments and the interest rate chargeable.

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