Tom Parlon (Laois-Offaly, Progressive Democrats)

I move amendment No. 3:

In page 28, line 40, to delete "4, 61" and substitute "4(2) to (5), 58, 61, 71".

The purpose of this amendment is to correct this oversight, a drafting omission in section 30 of the Bill, the second line of the new section 41B, subsection (1), of the principal Act, to provide that the provisions of sections 58 and 71 should also apply as adapted to designated commercial mortgage credit institutions in addition to sections 4, 61 and 91. Certain terms used in sections 58 and 71 of the principal Act need to be modified in the case of the proposed new designated commercial mortgage credit institutions. For example, in section 71E the reference to a register of mortgage covered securities business needs to be amended to a register of commercial mortgage covered securities business. Likewise in section 58 the reference to mortgage credit assets needs to be amended to commercial mortgage credit assets.

The second amendment corrects a typographical error. The reference in the new section 41B, subsection (1)(k), to section 6 should instead refer to section 61.

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