14 Feb 2012, 15:46
Representatives from Department of Social Protection; Citizen Information Bureau; Money Advice and Budgeting Service (MABS); Irish Society of Insolvency Practitioners (ISIP); New Beginning; Free Legal Advice Centres Ltd (FLAC); Askaboutmoney.com, and Irish Banking Federation will present submissions to the Joint Committee on Justice, Defence and Equality on the Heads of the proposed Personal Insolvency Bill.
Chairman of the Committee, Deputy David Stanton said: “The main provision of the Bill is that it proposes to introduce the establishment of a State-run insolvency service to operate the new non-judicial insolvency arrangements. It allows for three voluntary debt-settlement systems to operate outside of formal court insolvency and cuts the period of bankruptcy from 12 years to three years. We are looking forward to our meeting tomorrow with the various groups to get their perspective on the provisions of the Bill and how it will address issues of financial difficulties, insolvency, mortgage debt and negative equity which many people are experiencing. Committee members will also have an opportunity to raise issues they may have around the legislation. Following the meeting, we will take into account the issues raised by the various groups and formulate a report which will be sent to the Minister for his consideration.”
This meeting will take place on Wednesday, 15th February in Committee Room 2, Leinster House 2000 at 2.30pm.
Committee proceedings can be followed live at:
http://www.oireachtas.ie/ViewDoc.asp?fn=/documents/livewebcast/Web-Live.htm&CatID=83&m=o
For further information please contact:
Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551
Committee Membership
Deputies:
Dara Calleary, Michael Creed, Alan Farrell, Anne Ferris [Vice-Chairman],Tom Hayes, Seán Kenny, Finian McGrath, Jonathan O’Brien and David Stanton (Chairman)
Senators:
Ivana Bacik, Paul Bradford, Martin Conway, Rónán Mullen, Denis O’Donovan.