S.I. No. 518/2011 - Insurance Act 1964 (Appointment of Collector under Section 6) Order 2011.

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 14th October, 2011.

I, MICHAEL NOONAN, Minister for Finance, in exercise of the powers conferred on me by section 6 (13) of the Insurance Act 1964 (No. 18 of 1964) (as amended by the Insurance (Amendment) Act 2011 (No. 26 of 2011)), hereby order as follows:

1. (1) This Order may be cited as the Insurance Act 1964 (Appointment of Collector under Section 6) Order 2011.

(2) This Order comes into operation on the 7 October 2011.

2. The Revenue Commissioners are appointed as collector for the purposes of section 6 of the Insurance Act 1964 (No. 18 of 1964) as amended by section 7 of the Insurance (Amendment) Act 2011 (No. 26 of 2011).

GIVEN under my Official Seal,

7 October 2011.

MICHAEL NOONAN,

Minister for Finance.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

The purpose of this order is to appoint the Revenue Commissioners to collect the appropriate contribution to be paid to the Fund by each insurer or insurer authorised in another Member State, calculated as a percentage determined by the Central Bank, not exceeding 2 per cent, of the aggregate of the gross premiums paid to that insurer or insurer authorised in another Member State in respect of policies issued in respect of risks in the State.