Dáil Éireann Debate, Wednesday - 24 April 2013
194. Deputy Pearse Doherty asked the Minister for Justice and Equality the annual revenues that will be generated by the new personal insolvency sector being established to deal with the mechanisms in the Personal Insolvency Act 2012. [19351/13]
Amharc ar fhreagraSection 20 of the Personal Insolvency Act 2012 deals with the fees chargeable by the Insolvency Service of Ireland (ISI). Application fees for the three personal insolvency arrangements have yet to be determined by the ISI. Therefore, at the present time it is not possible to indicate what revenue may be generated by the Service in this regard. The ISI will also generate revenue from application fees which will be charged to persons wishing to become Personal Insolvency Practitioners (PIPs). However, at this stage it cannot be estimated how many persons will apply for that role and how many will actually be authorised to practice.
Under the Personal Insolvency Act 2012, Approved Intermediaries cannot charge a debtor a fee in connection with Debt Relief Notice applications. In the case of processing Debt Settlement Arrangements (DSAs) and Personal Insolvency Arrangements (PIAs) it will be the role of the PIP to negotiate their fees on a case by case basis. PIPs fees will be subject to creditors approval and will be paid from the debtor's contribution to the arrangement. I am advised by the ISI that it is not possible at the present time to indicate with accuracy what revenue may be generated by this business sector.
