9. Investments / scheme liabilities
In 2008, the Minister for Health established the Special Obstetrics Indemnity Scheme (the “SOIS”). Under the SOIS, the Minister agreed to indemnify the Bon Secours and Mount Carmel Hospitals in respect of specified obstetric claims. The Government delegated the management of claims under the SOIS to the NTMA under S.I. No. 628/2007, National Treasury Management Agency (Delegation of Functions) (Amendment) Order, 2007. The named participating hospitals made contributions to a fund which is managed by the NTMA on behalf of the Minister for Health under section 29(2) of the National Treasury Management Agency (Amendment) Act, 2000.
The Minister for Health authorised the SCA to draw down amounts from the fund to reimburse the SCA under section 16(2) of the National Treasury Management Agency (Amendment) Act, 2000 for any amounts paid by the SCA on behalf of the participating hospitals.
SOIS funds
Scheme funds are invested in Exchequer Notes on behalf of the Department of Health. Income earned on the Scheme's investments is paid into the fund and is not recognised as income of the SCA.
| Note | 2016 €'000 |
2015 €'000 |
|
|---|---|---|---|
| Balance at 1 January | 5,469 | 5,522 | |
| Claim settlements and expenses | 4 | (350) | (53) |
| Income earned | - | - | |
| Balance at 31 December available for settlement of claims | 5,119 | 5,469 |