Dara Calleary (Mayo, Fianna Fail) | Oireachtas source

I move amendment No. 4:

In page 7, between lines 14 and 15, to insert the following:“(5) The Minister will commission a report within 3 months of the Act becoming operational outlining how the Credit Guarantee Scheme can help make it easier for businesses that owe money to banks exiting the Irish SME market to refinance those debts with domestic institutions.”.

Given the difficulties with this scheme in the past and how important it is to get this one right, I propose that we get a report within three months to ensure that the scheme, as redesigned, is meeting its objectives and that we do not see the kind of delays we saw on the last occasion. Concerns were highlighted early in the lifetime of the last scheme and were ignored, which resulted in many of the delays. This amendment aims to prevent any such difficulties and to ensure that all the objectives of the scheme are met.