Seanad debates

Wednesday, 12 February 2003

Unclaimed Life Assurance Policies Bill 2002: Committee Stage.

 

This section refers to the Minister for Community, Rural and Gaeltacht Affairs who will be in charge of the fund when it is established. The threshold mentioned in the Bill is €500. On Committee Stage in the Lower House the Minister seemed to indicate the possibility of reducing the threshold in the future. The amendment seeks to ensure that if the threshold is reduced in the future, all the proceeds which go into the fund between now and then would be subject to the regulation of the Minister.

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