I would like to make a brief statement on this section. I think representations have been made by an organisation called the Private Motorists' Protection Association concerning paragraph (h) of this section which excludes from the Bill charges for services rendered in connection with banking or insurance. I presume the Private Motorists' Protection Association is solely concerned with the insurance arrangements for motor vehicles. On that assumption I want to point out the position is that, under the Insurance Act, there is power to control the cost of motor insurance and workmen's compensation insurance. These two classes of insurance are singled out from all others in that respect that the Minister for Industry and Commerce is given power to control charges for those types of insurance. Consequently, there is no necessity to make any provision in this Bill for the control of charges of that type. That power under the 1936 Insurance Act has, in fact, never been used, but it is there to be used if circumstances should justify it.
With regard to other classes of insurance, not merely would price control be impracticable because of the very technical considerations that would enter into calculations of proper premiums, but it would be particularly difficult for the Minister for Industry and Commerce to take power in that regard because the main purpose of that Insurance Act was to put upon the Minister for Industry and Commerce a specific obligation to ensure the solvency of Irish insurance and assurance companies. There are, as Deputies may be aware, provisions for the periodic examination of the accounts of these companies in the Department for the specific purpose of ensuring the solvency of insurance companies.
I feel certain, however, that the Private Motorists' Protection Association was mainly concerned with motor insurance, and power to control charges in that respect already exists. I might mention that I have received some representations from the Banks' Standing Committee regarding the wording of the paragraph. I do not think any amendment of the paragraph would be necessary but I should mention that these representations are under consideration so that I shall have the authority to produce an amendment if an amendment is considered necessary on the Report Stage.