asked the Minister for Industry and Commerce if he is aware that Irish Assurance companies are required to make with him a Statutory Deposit of £20,000 for each class of assurance undertaken by them, whereas no such deposit is required for similar English companies operating in the Free State? And if it is his intention to require that all Assurance Companies operating in the Free State, whether Irish or English, and whether with branch offices in the Free State or not, should make a similar deposit. Further, asked the Minister if he will consider the advisability of requiring that all such deposits should be lodged in Free State bonds.
CEISTEANNA—QUESTIONS. [ORAL ANSWERS.] - ASSURANCE COMPANIES' DEPOSITS.
It is contemplated that the statutory requirement of a deposit of £20,000 by Assurance Companies shall apply to all such companies whether they are Irish companies or English companies operating in the Saorstát. To require the lodgment of the deposit in Saorstát Bonds would appear to involve legislation, the desirability of which will be considered.