Mr. Christopher Lehane:

Mr. O'Connor and I are both members of the International Association of Insolvency Regulators. The three-year discharge period compares very well with practice internationally. The question is whether reducing the period to one year, for example, would necessarily encourage people to avail more quickly of the bankruptcy regime. The answer is that it is a possibility that people might regard a reduced period as more favourable. Personally, however, I would stick with three years. I deal fairly with people when it comes to income payment orders. While Deputy Donnelly might be of the view that it should be eight years, I am saying that it could be two or three, depending on people's repayment capacity.

As I said, it is important that people have the right information. The road show we will be doing with Mr. O'Connor will afford us an opportunity to get out there and explain to people what exactly bankruptcy is. A major difficulty is that it has in the past been treated almost like a criminal offence. The more people avail of it, the more people will see how it can function as a release from an unsustainable debt burden. In so far as Deputy Donnelly is asking me for solutions, I am saying that there is a major information campaign to be staged. Bankruptcy should be a valid solution in every jurisdiction.