John Paul Phelan (Fine Gael)

As this is the last amendment, we probably could have concluded Committee Stage last night. I have already spoken briefly on the amendment. 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 then lists four items with which undertakings must be in compliance. The amendment seeks to add an additional item to that list – that the undertakings make every reasonable effort to identify unclaimed policies.

The amendment is of fundamental importance as its addresses the key element of protecting the right of the individual to claim previously unclaimed policies. As it would not damage the legislation in any way, I urge the Minister of State to accept it.