Oireachtas Joint and Select Committees
Wednesday, 26 February 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Sale of IBRC Mortgage Loan Book: Discussion
5:30 pm
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source
That is the problem. We have established the Government is disposed towards bringing in legislation that will make these loans subject to the consumer code, the mortgage arrears resolution process, MARP, and so on. We do not know when but it has indicated it will do so at some stage. At the same time we have been told that it cannot be a condition of the sale because it will impact on the price. I do not understand how we can commit ourselves to do something down the road, which presumably will have the same impact on the price, when we cannot do it now because it will have an impact on the price. Why will it not impact on the price further down the road if it impacts on it now? I do not get it. If we can do it down the road, why can we not do it now?
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