asked the Minister for Justice if he is aware that there is widespread dissatisfaction with the present bankruptcy laws in this country; and if he intends to introduce any new legislation in this field.
Ceisteanna—Questious. Oral Answers. - Bankruptcy Laws.
29.
A full examination of the law and practice of bankruptcy has been conducted by a Bankruptcy Law Committee, which was established in 1962. This committee have prepared a draft Bankruptcy Bill and are at present engaged in drawing up their report and draft regulations. When these documents are presented to me, I shall consider them with a view to preparing proposals for amending the law on the basis of the committee's recommendations.
Would the Minister consider that it has taken an unduly long time since the committee started in 1962?
I would agree that, on the face of it, it seems to have taken a long time. Having met them and discussed the matter in detail with some members of the committee, I am aware that they have worked extremely hard. They held 98 plenary meetings and several hundred meetings of subcommittees. In addition, they sat on nine occasions to take evidence. In the past few weeks they have provided me with a copy of the Bill. It is an enormous Bill of great complexity. In the circumstances of the complex and difficult branch of the law which they were investigating, I can understand that it would take that length of time. They have done an excellent job in a very unrewarding branch of the law.
It has taken eight years to arrive at this situation. When can we expect a Bill in relation to this matter?
I have the draft Bill. I would be slow to lay it before the House until I get the report on the draft regulations. I expect to have them pretty soon. The Bill would then be submitted to the Attorney General for vetting. I would expect to introduce it immediately after that.
Has particular attention been paid to developments in bankruptcy law in the EEC countries?
Not having the report of the committee before me, I cannot answer that question with any certainty. I should imagine that the committee were well aware of those factors and would take them into account.