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

The Central Bank's detailed submission referred to its own legal advice and resources available to it. On the question of whether the Bill can be applied to existing mortgage contracts, that is, mortgage contracts already written where the borrower has signed up to a contract with a clause that explicitly permits the sale of that mortgage, what is the view of the Central Bank, in the light of its advice, as to whether the Bill could cut through those existing contractual provisions and set them aside?