Dáil Éireann Debate, Wednesday - 12 March 2014
61. Deputy Brendan Griffin asked the Minister for Finance if he will remove the Statute of Limitations applied to mis-sold payment protection insurance that was sold to customers since 2007, in line with other EU countries; and if he will make a statement on the matter. [12451/14]
View answerAs Minister for Finance, I do not have the primary role in relation to amending the law in relation to the Statute of Limitations. This is a matter which has broad legal application and, as such, would fall for consideration, in the first instance, by my colleague the Minister for Justice and Equality.
Turning specifically to Payment Protection Insurance issue, the Financial Services Ombudsman Bureau was established under the Central Bank and Financial Services Authority of Ireland Act 2004. This legislation provides the Financial Services Ombudsman with various powers in order to determine jurisdiction on a complaint. Included in this is a statutory timeframe. Section 57BX (3)(b) provides:- A consumer is not entitled to make a complaint if the conduct complained of occurred more than 6 years before the complaint is made.
Therefore, the legislation prohibits the Financial Services Ombudsman from examining any aspect of a complaint where the conduct being complained of occurred more than 6 years prior to the receipt of the complaint in his Office.
