Seanad debates

Wednesday, 12 February 2003

Unclaimed Life Assurance Policies Bill 2002: Committee Stage.

 

10:30 am

Derek McDowell (Labour)

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 sponsoring Department, has assented to it. It seems strange that the Minister for Community, Gaeltacht and Rural Affairs should be the primary Minister in terms of making those regulations.

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