Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The purpose of the legislation is to ensure that everybody who has mortgage arrears and is being communicated with, through an agent or otherwise, by the owners of that mortgage has the same protection as all of the people who, up to now, have been regulated by the Central Bank and the terms of the code of conduct for mortgage arrears. That is the purpose of it. The purpose is not to give a list of who owns what in the country. It is a regulation Bill which will provide the same regulation by the Central Bank that everyone thought desirable. There was unanimity in the House that this legislation was necessary.