Mr. Antoine Mac Donncha:

If there was a process in train, I think the legislation would intervene in it at this stage. It is worth bearing in mind that in any case the provisions of the unfair terms and conditions in consumer contract legislation already would apply to contracts between consumers and these purchasers even before this legislation intervenes. The difference after the enactment of this legislation is that the Central Bank will now be in a position to intervene. Although the Central Bank has had some access to intervention already, the reality is that it is now in the position that it is monitoring this on the part of regulated firms rather than unregulated firms to a large extent. However, even before that, if an owner were to have unilaterally changed the terms and conditions of the contract in a manner that was unreasonable or without valid cause, legislation already in place would effectively make that term and condition unenforceable against the consumer.