Regina Doherty (Meath East, Fine Gael)
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I am curious as to why there were so few submissions to the public consultation process. A large number of people had their mortgages transferred through the sale of IBRC, Irish Bank Resolution Corporation, to two companies which were given colourful names at the time. There were serious and genuine concerns arising from the fact they would not be protected, yet there were only 19 submissions. This legislation is designed to protect these mortgage holders. Not trying to be smart but was this consultation process advertised well? Did the Department get any submissions from any of the mortgage holders who expressed their concerns about the sale of the IBRC loan book at the time? Did they make a collective submission?

What are the differences between what the legislation purports to do and what the actual existing regulations do to protect those whose loans are sold to regulated parties?