Tuesday, 23 July 2019

Questions (1015)

Michael McGrath

Question:

1015. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation if she has requested the Minister for Public Expenditure and Reform to consent to the withdrawal of funds from PIAB to the Exchequer as specified under section 74A of the Personal Injuries Assessment Board Act 2003, as inserted by section 13 of the Personal Injuries Assessment Board (Amendment) Act 2019; if consent will be requested in respect of same; and if she will make a statement on the matter. [33471/19]

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Written answers (Question to Business)

Section 74A of the Personal Injuries Assessment Board Act 2003 as inserted by the Personal Injuries Assessment Board (Amendment) Act 2019, and which came into effect on 3 April 2019, allows the Personal Injuries Assessment Board (PIAB), with the authorisation of the Minister for Business, Enterprise and Innovation and with the consent of the Minister for Public Expenditure and Reform, to retain a specified sum of money for the purposes of expenditure by the Board in the performance of its functions. The sum to be retained is to be determined having regard to the operational, capital and contingency costs of the Board.

My Department and PIAB are in the process of determining the level of reserves to be retained and I will seek the consent of the Minister for Public Expenditure and Reform in relation to any proposed sum. Any amount in excess of that level will be remitted to the Exchequer. As an interim measure, in July 2019, PIAB remitted an amount of €9 million, through my Department, to the Department of Public Expenditure and Reform.