Niall Collins (Limerick, Fianna Fail) | Oireachtas source

I move amendment No. 1:

In page 3, between lines 10 and 11, to insert the following:

"Amendment of section 16 of Principal Act

2.Section 16 of the Principal is amended by the insertion of the following new subsection after subsection (2):"(2A) Where a Debt Relief Notice, a Debt Settlement Arrangement or a Personal Insolvency Arrangement as outlined in the Principle Act is rejected by a majority of creditors, this information will be included in the Annual Report of the Insolvency Service of Ireland.".".

This is self-explanatory. Where a proposal for a debt settlement or personal insolvency arrangement, PIA, is rejected by a majority of the creditors, this information will be included in the annual report of the Insolvency Service of Ireland, ISI. This is a public information initiative.