Jack Chambers (Dublin West, Fianna Fail) | Oireachtas source

I thank my colleague, Deputy Michael McGrath, for the work he has put into the Bill. In recent days we have seen how the banks have conducted themselves and Deputy McGrath has been to the forefront of examining that. We need to re-balance the power across a number of core policy areas for the banks and removing the veto is the most appropriate mechanism to ease the situation of the borrower and to try to avoid borrowers having to go through the court process. I have a couple of questions which relate to some of the submissions we received from the other groups. The Irish Mortgage Holders Organisation, IMHO, has said that, while it welcomes the Bill, it thinks going back to the Personal Insolvency Act could bring up more constitutional difficulties, which seems to mirror what the Minister has said. The IMHO has suggested that the outcomes desired by the Bill could be achieved in an easier fashion by a not-for-profit regulated third party. What is Deputy McGrath's view on that position?