Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)

In tabling amendment No. 48 along with Deputy Boyle, my main intention is to emphasise that the only debarment to making a complaint by the consumer in this instance is where the consumer has initiated legal action or complaint, and the due process is either attending to or has already addressed the issue involved. The concern relating to the construction of section 57BX(3)(a) is that the financial institutions would see this as an "out", an opportunity to initiate legal action as a means of debarring a complaint by the consumer. Examples could be given where that risk exists. This Bill should be primarily devoted to protecting the interests of the consumer. This particular phrase, "the financial institutions for whom legal action poses no financial concern", would close off that avenue to consumers. The proposed amendment provides greater precision in the construction of subsection (3)(a) under this particular section of Chapter 5. The clause would then read, "is or has been the subject of legal proceedings brought by the consumer before a court or tribunal". It is clearly intended to specify that it is where the consumer would have initiated the legal action but that the opportunity for the financial institution to do so, thereby closing off the consumer's right of referral of the issue, would no longer apply. I appeal to the Minister of State. This is a sensible proposition and one which, as I can see by his nod of assent, he understands and agrees with. The problem is whether he will be allowed to assent to it.

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