Seanad debates

Wednesday, 12 February 2003

Unclaimed Life Assurance Policies Bill 2002: Committee Stage.

 

10:30 am

Derek McDowell (Labour)

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 fair enough, but it seems to me that the making of the regulations governing how the insurance companies deal with these matters is, or properly should be, a matter either for the regulator when established or for the Minister for Finance. I really do not see that the Minister disbursing the fund should make the regulations.

Comments

No comments

Log in or join to post a public comment.