Oireachtas Joint and Select Committees

Wednesday, 5 March 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Bi-annual Review 2013: Financial Services Ombudsman

3:50 pm

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour)
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I would not expect Mr. Prasifka to have the answer to this question this afternoon, but I ask him to furnish the committee with some general outline on it. My question relates to the six-year time limit. Will Mr. Prasifka indicate how many complaints he gets, the sectors to which the complaints refer and how many he will have to refuse to hear because of the six-year time limit? I understand there is a time limit in respect of all complaints.

A number of members dealt with the IBRC. The liquidators and the Department of Finance appeared before the committee last week. It is indeterminate as to where the IBRC loan book will end up and all we know is that the phase 2 bidders have agreed to a voluntary code of conduct, but it may not develop to phase 3. The loan book could end up in NAMA and not be sold. Bearing in mind Mr. Prasifka's earlier comments, if the loan book is taken over by NAMA or an organisation that has agreed to a voluntary code of conduct, will he be able to hear complaints about them?