Dáil Éireann Debate, Thursday - 2 February 2012
207 Deputy Michael McGrath asked the Minister for Justice and Equality if he envisages that solicitors would meet the eligibility criteria to qualify as personal insolvency trustees as set out in the personal insolvency Bill 2012; and if he will make a statement on the matter. [6139/12]
View answerThe Personal Insolvency Bill, the Heads of which I published on 25 January 2012, introduces a number of new non-judicial debt settlement systems. Two of those systems — Debt Settlement Arrangement and Personal Insolvency Arrangement — require the involvement of a personal insolvency trustee as the intermediary between the debtor and creditors. The matter of the eligibility criteria, licensing and regulation of personal insolvency trustees is a matter that remains to be determined. It is likely that the Central Bank will play the lead role in this regard. I would see no reason why a solicitor, or any other person, should not be in a position to seek to meet the eligibility criteria.
