Vol. 481 No. 2
13 Dr. Upton asked the Minister for Finance the representations, if any, he has received from any of the existing building societies or from other parties requesting that he amend or otherwise change section 102 of the Building Societies Act, 1989; and if he will make a statement on the matter. [15708/97]
15 Mr. Rabbitte asked the Minister for Finance the representations, if any, he has received in respect of diluting the five year rule of section 102 of the Building Societies Act, 1989, which prevents any individual or company from owning more than 15 per cent of a converted building society for five years after conversion; his views on the need to maintain diversity and encourage competition in the home loans market; if he will reject any such representations in view of the need to protect the interests of customers and mortgage holders and the need to prevent quick deals from being done for the benefit of predator companies; and if he will make a statement on the matter. [15644/97]
I propose to take Questions Nos. 13 and 15 together.
I have agreed to meet, next week, representatives of certain building societies who wish to discuss the matter raised by the Deputies. I should point out, however, that any amendment of section 102 of the Building Societies Act, 1989 is primarily a matter for the Minister for the Environment and Local Government.
