Ms Helen Curley:

I need to correct something here. The Company Law Review Group is not looking at this issue at the moment, and it has never looked at it since 2016. Receivership is not currently on its work programme. I wish to correct that misunderstanding.

In regard to the other aspects the Deputy has raised, such as the running up of fees, all I can tell the committee is what the legislation currently provides. I have mentioned section 444 of the Act and the possibility of going to the High Court to have the receiver's fees reviewed. Regarding minimum qualification standards like those for liquidators or examiners, I have attempted to point out the difference between a liquidator or examiner and the more narrow role a receiver will have in a lot of cases. That role is to secure an asset and sell it at the best price obtainable so that the debt can be repaid to the person or institution that provided the money. Mr. McKenna has alluded to the fact that many receivers may be accountants and thereby amenable to the professional standards set by their own professional body.