asked the Minister for Justice if he will state why the interest on money deposited by insurance companies with the Accountant-General of the Supreme Court of Saorstát Eireann is not paid over, on receipt, to the companies entitled; and whether he will state the reasons for the delay of six months in such payments.
Ceisteanna—Questions. Oral Answers. - Interest on Deposits by Insurance Companies.
The interest accruing due on money deposited by insurance companies with the Accountant of the Courts of Justice is usually paid over to insurance companies as it accrues. Where, however, the deposit consists of several different classes of securities, on which the interest accrues at various dates, payments are made at intervals throughout the year on specially selected dates. A company desirous of having these dates altered or payments made more frequently, on application to the Accountant can have its wishes carried out. An examination of the payments made during the year 1928 shows that a delay of six months occurred in only one instance. When the long delay was brought to the notice of the Accountant by a representative of the company a payment order for all the interest accrued was immediately issued, and such delays are not likely to recur. In fact the particular company has already received two payments in the present year.