John Paul Phelan (Fine Gael)

I move amendment No. 11:

In page 19, subsection (2), between lines 33 and 34, to insert the following new paragraph:

"(f) the making of all reasonable efforts to identify unclaimed policies.".

Section 17(2) states:

Each insurance undertaking shall furnish a certificate of compliance to the regulatory authority, not later than one month after the end of each financial year, in the form and manner that the regulatory authority may specify, stating, if this is the case, that the insurance undertaking has complied with this Act in respect of the following:

It lists three or four areas. This amendment adds an additional item to that list, which is, that they have made every reasonable effort to identify unclaimed policies.

It is a reasonable, if not substantial, amendment which is fundamentally important to the object of the legislation. It is a basic amendment which will not damage the legislation in any way. I would urge the Minister of State to accept it.