asked the Minister for Local Government and Public Health if, in consequence of the transfer of engagements under the National Health Insurance Act the adjustments in the Funds of Societies in this country have yet taken place, and, if so, if the amount ascertained to be due to Saorstát Societies has been credited to the Irish Insurance Fund, and if sums invested prior to the Treaty in British Securities will be made available for investment in Irish Securities.
CEISTEANNA—QUESTIONS. (ORAL ANSWERS.) - NATIONAL HEALTH INSURANCE—ADJUSTMENT OF FUNDS.
TOMAS MAC EOIN
It is hoped that the apportionment referred to by the Deputy will be completed by the end of the present year. The apportionments and adjustments necessary are being made by the International Arrangements Board, appointed under Section 11 (1) of the National Health Insurance Act, 1923, and Article 14 (1) of the National Health Insurance (International Arrangements) Order 1923.
Investments which were held by the National Debt Commissioners, and which, on apportionment, are allotted to Saorstát Eireann, will be handed over to the Minister for Finance. Under Section 54 (3) of the National Insurance Act, 1911, as amended by Section 28 (1) (c) of the National Health Insurance Act, 1923, it is open to the Minister to realise such investments and reinvest in any securities in which trustees are for the time being authorised by law to invest trust moneys.
Pending a final apportionment, 45½ per cent. of the securities held by the National Debt Commissioners were provisionally apportioned to Saorstát Eireann under the Irish National Health Insurance Fund (Apportionment of Assets) (No. 2) Order, 1922, and were handed over to the Minister for Finance.
Any investments which, after the apportionment of funds has been completed, are held by Saorstát Eireann Societies or by the Irish Insurance Commission on their behalf, can be varied by or at the direction of the Society within the limitations laid down in Section 56 (2) of the National Insurance Act, 1911.