asked the Minister for Industry, Trade, Commerce and Tourism if he will consider amending the Insurance (No. 2) Act, 1983, to require the public disclosure of costs, expenses and other remunerations paid to any administrator appointed under the Act.
Ceisteanna—Questions. Oral Answers. - Amendment of Insurance Act.
7.
The Act provides that the High Court shall, on the application of an administrator of an insurer, by order fix the amount or the basis of calculation of the amount of the costs, expenses and remuneration of the administrator. An administrator is also required to deliver to the court a summary of the sums received or retained by him in each year for the costs and expenses of the administration and for his remuneration.
In view of this, I am not convinced that it is necessary to legislate in the manner proposed by the Deputy but I am prepared to consider the matter further in the light of experience.