Mr. Lorcan O'Connor:

The Chairman asked about the consistency of arrangements. I have identified that as something that would assist practitioners so that they know what is expected of them. I have encouraged professional bodies whose members might be involved in this area to consider issuing sample templates and sample arrangements, and I have mentioned it to the IBF also. For various reasons the Chairman will no doubt appreciate that such things take time. Given that they will take time the ISI is working on developing a template of our own. We hope to publish it in the coming weeks and it will outline, for a sample personal insolvency arrangement, PIA, the suite of documents that are generated, what one might expect to see in a proposal, and the terms and conditions one would expect in a proposal. It will be published simply for information purposes because it is for the creditors and the practitioner to decide what terms and conditions are included but in the absence of that kind of template and to get to a point of consistency coming from anywhere else, it is incumbent on the ISI to put in place something to at least encourage that process.