Tuesday, 1 April 2014

Questions (132)

Timmy Dooley


132. Deputy Timmy Dooley asked the Minister for Health when he will address the regulatory position of the VHI; and if he will make a statement on the matter. [14857/14]

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Written answers (Question to Health)

The Government agreed in December 2011 to address the European Court of Justice ruling of September 2011 and to work with the VHI in its application process for authorisation by the Central Bank of Ireland (CBI), subject to further Government consideration of any application for authorisation. Despite good progress, it was not possible to authorise the VHI before the deadline of 31 December 2013, and the EU Commission was notified accordingly. The Government has committed itself to continuing the work towards authorising the VHI as soon as possible and agreed that a request be made to the EU Commission to extend the deadline, with a commitment to seek to have VHI authorised by end 2014. The VHI Board has committed to this approach.

VHI's readiness for authorisation will be determined by the CBI after its assessment of VHI's application. Officials from my Department, the VHI and CBI continue to engage regularly to progress the application and my officials are also in regular contact with the EU Commission in relation to the authorisation and related issues.