asked the Minister for Industry and Commerce if Sections 5 and 6 of the Assurance Companies Act, 1909, are now being enforced by his Department, whereby each Assurance Company is required to deposit annual statements of its revenue account, profit and loss account, and balance sheet. And whether the quinquennial statements required by that Act from each Assurance Company of its valuation methods, schedules and results will be enforced as from this year, each subsequent quinquennial period to begin as from this year. And if copies of such annual and quinquennial statements will be published by him in some convenient form for the benefit of policy holders.
CEISTEANNA—QUESTIONS. [ORAL ANSWERS.] - ASSURANCE COMPANIES' DEPOSITS.
I will answer this question on behalf of the Minister for Industry and Commerce. The answer to the first part of the question is in the affirmative. Assurance Companies will be required to submit to the Ministry once in every five years, or at such shorter intervals as may be prescribed by the instrument constituting the company, or by its regulations or bye-laws, an actuarial report and abstract as required by Section 5 of the Assurance Companies Act, 1909. The accounts, balance sheets, etc., deposited with the Ministry will be laid annually before the Oireachtas in accordance with the provisions of Section 27 of the Act.