Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I welcome the officials before us and thank them all for their opening statements. It is certainly a complex area. It seems that much is determined by the basis on which the receiver is appointed - whether on the basis of the mortgage or debenture loan, whether there is a legal basis under the Companies Acts, and so on. It seems to be quite varied in terms of the basis and the impact that has. On the issue of buy-to-let property and tenants' rights to which Mr. McKenna referred, currently the basis of a receiver being appointed to a buy-to-let property - which we know has happened in many cases involving several different banks - derives from the mortgage contract. Is there any statutory basis to that?