Dáil Éireann Debate, Thursday - 15 September 2011
117 Deputy David Stanton asked the Minister for Justice and Equality the progress being made in the development of the personal insolvency Bill to bring in changes to current bankruptcy legislation; and if he will make a statement on the matter. [24302/11]
Amharc ar fhreagraIn line with the commitment in the Programme for Government and the EU/IMF Programme of Financial Support for Ireland, a Personal Insolvency Bill is in the course of being developed in my Department with a view to being published in early 2012 or earlier if possible. It will provide for a comprehensive new framework for settlement and enforcement of debt and for personal insolvency. It is planned to furnish a copy of the Heads of the Bill when complete to the Joint Oireachtas Committee on Justice, Defence and Equality for its consideration and comment.
The Civil Law (Miscellaneous Provisions) Act 2011 contains some interim measures in relation to reform of the law on bankruptcy. The period for application to the court for discharge of bankruptcy is reduced from 12 years to 5 years, albeit subject to the same conditions as at present. An adjudication of bankruptcy will be automatically discharged after 12 years. I am arranging to bring those measures into operation by Order in the very near future.
