Results 1,561-1,580 of 1,683 for speaker:Derek McDowell

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: Excellent.

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: While the Minister of State consults his official, let me make a slightly different argument. Am I correct in saying that, in respect of the section to which we have just agreed, section 7, it would be open to the Minister in any event to effectively vary, by regulation, the way in which the news can be given? Effectively, he or she could amend the legislation and provide for the amendment...

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: The section refers to the notice being in the prescribed form. What does the Minister of State believe will be required by virtue of that formulation?

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: It does not state that. Obviously, we can guess what would be involved because I presume it will entail the procedure somebody would have to follow but it states the notice shall be in the prescribed form or in a form which should contain certain information, etc. I assume Senator Quinn is saying there should be a notice on the website similar to what would appear in the newspapers.

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: There is some merit in the amendment, although we need not require insurance companies to have precise numbers. If a notice appeared stating there are 500,000 unclaimed policies, rather than just a formal statutory notice, ancillary publicity from radio or television would result. While I accept that there will not be a precise number by October this year, the undertakings will have a clear...

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: A later section empowers the inspectors to provide certain statistics. Would it be the intention that such information would appear on a regular basis? It might have the same effect. Amendment, by leave, withdrawn.

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: These are the most important amendments that we have discussed so far. The Minister indicated willingness to consider the idea when he dealt with the matter in the Dáil. Simplicity is the aim behind them. If someone wants to claim a policy, there should be one point of contact – one phone number or website – where they can get information. At present, that does not apply. The Minister of...

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: Within a few years.

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: I accept that, in practical terms, this would take a little time to put in place but I believe the officials are over emphasising the issue of legal and constitutional difficulties. I do not see a need for substantial change in the way one currently claims under a policy – I assume that is by filling in a form and providing certain information, including a policy number. Obviously, a...

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: My difficulty is that I do not understand what the legal complexities are, even in very broad outline. As I see it, if somebody who believes he or she may be entitled to benefit under a policy contacts an agency which has a database of information, that database is not available to them in total but they should be entitled to a simple "Yes" or "No". I do not see where any legal complexity arises.

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: It already arises under the current procedure for claiming from an insurance company. The possibility of fraud or the difficulty to which the Minister of State alluded could already arise in circumstances where people claim under policies.

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: In terms of public notice and so on, does the Minister for Finance intend to carry out a publicity campaign in relation to this? There have been some wonderful and highly skilled publicity campaigns by Ministers.

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: Are we likely to see the Minister perambulating down by the canal in his constituency and that sort of thing?

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: I have a question for the Minister of State about something which I genuinely do not understand. The Bill, and this section in particular, gives the power to the Minister for Community, Gaeltacht and Rural Affairs to make what are effectively financial regulations. I understand that he is the Minister responsible for the disbursement of the fund at the other end of the process and that is...

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: I appreciate what the Minister of State said. The Bill generally gives the power to the Minister for Gaeltacht, Community and Rural Affairs to make the regulations in relation to policies.

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: I understand that, but in several sections it also gives the power to the Minister to make regulations in relation to how life assurance policies are dealt with, which is properly a life assurance matter for the independent regulator or for the Minister for Finance. I know it requires the consent of the Minister for Finance but I am quite surprised that the Department of Finance, which is the...

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: Although it is not a particularly germane matter, section 7 states: The Minister for Community, Gaeltacht and Rural Affairs, having regard to the purposes specified in subsection (3), following consultation with the regulatory authority and subject to the consent of the Minister for Finance, may make regulations providing for the application of this Act and instruments made under this Act,...

Seanad: Unclaimed Life Assurance Policies Bill 2002: Committee Stage. (12 Feb 2003)

Derek McDowell: I take that point, certainly.

Seanad: Order of Business. (4 Feb 2003)

Derek McDowell: In relation to the intervention of Fine Gael in the Connacht rugby affair, I have never doubted the affinity and deep knowledge of members of that party, particularly Senator Brian Hayes, in relation to garrison games and related issues. The class base of rugby in Ireland is an issue that needs to be discussed, but the fact that the game is becoming more popular in Connacht is helpful and...

Seanad: Order of Business. (4 Feb 2003)

Derek McDowell: One will travel far and wide before finding a Christian Brothers school where rugby is played. That is the bottom line. I was interested to see the coverage in recent days of the Kyoto Protocol, which is about to enter into force following its ratification by the Russian Federation. It seems to have suddenly struck the Government that this is a very serious issue that could have serious...