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Personal Insolvency Practitioners

Dáil Éireann Debate, Thursday - 27 June 2013

Thursday, 27 June 2013

Questions (195)

Robert Dowds

Question:

195. Deputy Robert Dowds asked the Minister for Justice and Equality when he expects the first personal insolvency practitioners to be formally operating as envisaged under the personal insolvency legislation. [31451/13]

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Written answers

Section 161 of the Personal Insolvency Act 2012 provides that the Insolvency Service of Ireland (ISI) may make Regulations for the purposes of the authorisation, control and supervision of Personal Insolvency Practitioners (PIPs). Section 47 of the Act provides that ISI may make Regulations for the authorisation of Approved Intermediaries. The ISI published the Personal Insolvency Act 2012 (Authorisation and Supervision of Personal Insolvency Practitioners) Regulations 2013 (S.I. No 209 of 2013) and the Personal Insolvency Act 2012 (Authorisation of Approved Intermediaries) Regulations (S.I. No. 216 of 2013) on its website, www.isi.gov.ie, on 25 June 2013 and is now accepting applications from qualified applicants who wish to become authorised as PIPs and Approved Intermediaries. Once applications for authorisation are made, the ISI anticipates that it will be in a position to issue authorisations within 10 working days. As soon as an individual or corporate body is authorised, their details will be available on the ISI website, www.isi.gov.ie.

It is expected that insolvent debtors can contact Approved Intermediaries and Personal Insolvency Practitioners and begin to receive initial advice from them in the second half of July. The ISI expects to begin receiving applications for Debt Relief Notices or Protective Certificates in the case of a Debt Settlement Arrangement or Personal Insolvency Arrangement shortly thereafter. It is likely that the number of authorised Approved Intermediaries and Personal Insolvency Practitioners will increase steadily throughout the summer and autumn.

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