Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

We are providing statutory recognition for the fund through this legislation. The Minister of the day will be able to look for information on the balance within the fund at any point and the MIBI will be compelled to provide that information on request. Is the Minister of State satisfied with the oversight provisions from the perspective of the State? It will be important for the administration of the fund to be subject to adequate oversight and accountability provisions, given that it will be the ultimate backstop in the case of the balance of 35%.

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