Mr. Hubert Fitzpatrick:

We have had discussions with the Department of Housing, Planning and Local Government on the need to streamline bonding processes and on standard wording of a bond that will apply countrywide. We need a bond that the insurance markets will be able to supply and following on from that a process whereby the works as they are carried out can be signed off on, certified as compliant with standards and the bond released and transferred to other developments. We are all singing from the same hymn sheet on that issue because that ultimately will protect the local authorities and the people who are buying homes in these developments. There is a body of work to be done in this regard and we are working with the Department on moving that process forward.

On fees, the annual charge for CIRI membership is €600. From a federation perspective, we see economies of scale arising such that as the register becomes statutory there will be an increased number of registrations under the scheme and thus the level of fee will reduce. However, as the Minister must consent to the level of fees payable on registration, at the end of the day it is the Minister who will have the final decision in that regard.