Oireachtas Joint and Select Committees
Thursday, 27 October 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion
9:30 am
Michael Noonan (Limerick City, Fine Gael) | Oireachtas source
The general term "vulture fund" applies to property funds that acquire mortgages, for example, and whatever would be the legal position in respect of the obligations of the original owner would be transferred to the vulture fund as the new owner. We already legislated for that last year. The rights would transfer. Therefore, yes, it would.
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