Seanad debates

Wednesday, 12 February 2003

Unclaimed Life Assurance Policies Bill 2002: Committee Stage.

 

10:30 am

Derek McDowell (Labour)

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, with and subject to any modifications that may be specified in the regulations, to policies. that are issued to such class or classes of person .".

It gives a much broader power to the Minister to make regulations about the very application of this Act. For example, according to my reading of it, the Minister for Community, Gaeltacht and Rural Affairs can change the €500 limit in terms of the policy to which it applies. Why is it that particular Minister? It is a policy decision made somewhere in the Department.

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