Oireachtas Joint and Select Committees
Wednesday, 1 March 2023
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Investment Funds: Discussion
Mr. Brendan Burgess:
I would look at primary legislation and see if the committee can come up with primary legislation that requires an institution that acquires a loan to offer the same rates that are being offered by the institution that sold the loan. I would put that into primary legislation. If such legislation was drafted and if the Government threatened to introduce it, we might see the Central Bank moving a bit more quickly or we might see the vulture funds moving in the right direction. On the other hand, they might just laugh and say that it cannot be done, that it is unconstitutional or whatever.
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