Donnchadh Ó Laoghaire (Cork South Central, Sinn Fein) | Oireachtas source

I will press the amendment. I move amendment No. 3:

In page 3, between lines 10 and 11, to insert the following: “2. Section 108 of the Act of 2009 is amended by the insertion of the following subsection after subsection (1):

“(1A) (a) In the case of a housing loan mortgage, notwithstanding the terms of the mortgage agreement or anything to the contrary set out in subsection (1), a mortgagee may not appoint a receiver without the permission of the Circuit Court.

(b) An application to appoint a receiver pursuant to paragraph (a) shall be made to the Circuit Court on notice to the mortgagor. In considering an application for an Order to appoint a receiver the Court may make such enquiries as it considers necessary to determine whether the appointment of a receiver is necessary for the purpose of receiving any income or other property as set out in subsection (1)(c) deriving from the property. Having made such enquiry, and heard the parties to the proceedings, the Court may refuse the Order sought or may grant an Order on such terms as it considers appropriate in the circumstances.”.”.