Feargal Quinn (Independent)

I thank the Minister for his kind words. I have tabled similar amendments on a number of occasions and they were generally accepted because it had been omitted in the first place.

I think the Minister may be mistaking section 8 for section 9. Section 8 deals with the notification of the customers – the Minister referred to e-mail. Clearly I did not table an amendment to that section because I recognise exactly the point he has just made. I also did not table an amendment to section 12, which deals with a register. I originally thought of doing so, as I thought a register should be available, but I realised there were issues of confidentiality and privacy.

This section is totally different and I disagree with the Minister for Finance. The Minister of State has just said that the Minister for Finance is of the opinion that the best way to contact them is to omit putting the information on the website. That is impossible. That is not the best way. The Bill proposes prominently displaying this in places like post offices and banks. However, here is a simple cost effective way that is available to everybody who has a computer.

The Minister made a real error when he talked about a slightly different era when people took these policies out 100, 80 or 50 years ago. However, the amendment does not suggest notifying them, but rather telling them that this exists. The section deals with publication of notice and states:

Where an unclaimed policy is held at an insurance undertaking . the insurance undertaking shall publish or cause to have published a notice in two or more daily newspapers circulating in the State and in Iris Oifigiúil.

This is an effort to tell people this scheme exists.

We are not talking about insurance companies being impartial in this. I accept the Minister's point that insurance companies will be happy if people find the notice as otherwise the State receives the money in the accounts. I am talking about the State not being impartial. As the State stands to receive the money, it is in its interest that as few people as possible are informed. I find it difficult to accept the Minister of State's refusal to accept the rational case for this amendment. I am concerned that he is not listening and I urge him to reconsider.