Mr. Antoine Mac Donncha:

In that scenario, the consumer would not have to look under the hood to see which institution was involved in dealing with the matter. There would be no need to get into whether Certus or AIB was at fault. The consumer would make a complaint against AIB and it would be adjudicated against AIB. If Certus had done something that caused it to have some sort of liability against the consumer, AIB could sort it out with Certus afterwards. Similarly, after this legislation is enacted somebody who is being dealt with by a servicer will not have to look behind that to see which institution owns the book, whether a special purpose vehicle is behind it or whether that vehicle had some hand or part in the matter about which he or she is seeking to complain. That person will make the complaint against the servicer. If the servicer seeks to try to abdicate responsibility for something by saying "no, that was the owner" - we do not think this is likely to happen - then the owner will be drawn into the complaint and any award will be made against the owner. We are trying to ensure there will be some kind of continuity there, so that the consumer will not really have to get into the ins and outs of who is at fault. It should not be the consumer's problem.