Written answers

Tuesday, 16 April 2013

Photo of Alan FarrellAlan Farrell (Dublin North, Fine Gael)
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To ask the Minister for Finance if he has any remit to protect consumers who contribute to savings clubs over a period of 12 months in cases where the company may go into liquidation; and if he will make a statement on the matter. [16300/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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Neither I nor the Central Bank have any role in relation to the supervision of savings clubs. However, I urge consumers to exercise caution when contributing to such clubs over a yearly period. The Deputy may wish to draw his concerns to the attention of the National Consumer Agency. The Agency has responsibility in the area of consumer education.

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