Written answers
Tuesday, 10 December 2013
Department of Finance
Investor Compensation Company Limited
Michael McGrath (Cork South Central, Fianna Fail)
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145. To ask the Minister for Finance if he will set out in tabular form the annual receipts and payments for each year for the period 2008-2012 in respect of the investor compensation fund; and if he will make a statement on the matter. [52896/13]
Michael Noonan (Limerick City, Fine Gael)
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As requested by Deputy McGrath, the following table displays the annual receipts and payments in respect of the Investor Compensation Company Limited (ICCL) for each year in the period 2008-2012.
| Financial year ended 31 July | 2008 | 2009 | 2010 | 2011 | 2012 | Total |
|---|---|---|---|---|---|---|
| Total Income | 5,783,362 | 6,004,379 | 6,106,747 | 5,638,591 | 7,262,149 | 30,795,228 |
| Total Costs | (572,583) | (1,098,143) | (1,206,687) | (1,352,684) | (16,529,038) | (20,759,135) |
| To Reserves | 5,210,779 | 4,906,236 | 4,900,060 | 4,285,907 | (9,266,889) | 10,036,093 |
The Investor Compensation Company Limited (ICCL) is a company which was established under the Investor Compensation Act, 1998. The main purpose of the scheme, as determined by the Investor Compensation Act, 1998, is to provide adequate funds out of which eligible investors of failed investment firms are compensated. The funds are generated solely from levies paid by investment firms.
The information requested by Deputy McGrath and further details concerning the funding arrangements of the ICCL is publicly available from the ICCL website:
www.investorcompensation.ie/publications.php.
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