asked the Minister for Industry, Trade, Commerce and Tourism if he will indicate the current position regarding the financial standing of the PMPA insurance company now under administration; if he has received notice from the administrator as to possible changes in the structure and financing of the company; and if he is satisfied that the company can meet their projected targets for the present financial year.

The administrator to the PMPA Insurance Company Limited was appointed by the High Court and he is responsible to the court for all aspects of the conduct of the business of the company, including its financial affairs.

The company are of course, subject to insurance supervision in the normal way and, as the Deputy will be aware, this involves the publication and presentation to the Houses of the Oireachtas of annual statements submitted to me.

As insurance supervisor, it would be inappropriate for me to comment on the affairs of a particular company. However, I can tell the Deputy that the PMPA administrator is required under the relevant legislation to publish accounts for the year ended 31 December 1983 by the end of next month.

At least we are getting the Minister to admit that his Department as the regulatory authority are responsible for the financial affairs of the PMPA confirming what I suggested here during the passing of the Insurance Bill, 1983, as we have now a nationalised insurance company.

That is a statement.

In those circumstances would the Minister indicate to the House what the accumulated liabilities of the PMPA are at present and what the estimated assets of the company now stand at?

I want to make it quite clear to Deputy Flynn, as he appears not to want to listen to me, that I said in my reply: "The administrator to the PMPA Insurance Company Limited was appointed by the High Court and he is responsible to the court for all aspects of the conduct of the business of the company, including its financial affairs."

I am afraid the Minister misunderstands. I understand exactly what the duties of the administrator are.

That is a good start.

The Department of which Deputy Collins is the Minister of State are responsible for issuing the licence to the PMPA to continue in business. They are also responsible for bringing before this House the statement which he has promised.

A question please, Deputy.

Is the Minister aware of the public disquiet following recent suggestions in the media that the accumulated liabilities of the PMPA are not in accordance with the statement issued to this House last year and that likewise the assets are not at the same level as was indicated by his predecessor? I want to know whether the Minister knows what is going on in the PMPA at present, what the financial arrangements are, and who issues the order to have these arrangements entered into.

In relation to my responsibilities I can tell the Deputy that the PMPA administrator is required, under the relevant legislation, to publish accounts for the year ended 31 December 1983 by the end of next month. We will have to wait until the end of next month when they are published to see the exact position.

Does the Minister still retain a right as the licensing authority for this insurance company to investigate what is happening in the PMPA? Yes or no?

I have supervisory powers in relation to insurance responsibilities and insurance legislation in respect of the PMPA. I treat that company in regard to price increases in the same way as I treat any other company.

What the Minister is saying is contradictory.