Michael Finneran (Roscommon-South Leitrim, Fianna Fail)

I move amendment No. 148:

In page 86, between lines 38 and 39, to insert the following:

"(6) (a) For the purposes of this section, the market value of an apartment shall be determined by the housing authority or, where the apartment purchaser does not agree with the market value so determined, by an independent valuer nominated by the apartment purchaser from a panel of suitably qualified persons, established by the housing authority, who are of a class or description prescribed under section 77.

(b) The housing authority shall not be liable for any expenses incurred by an apartment purchaser under paragraph (a).".

This amendment inserts into the incremental release suspension process a mechanism for resolving disputes over the market value of an apartment involving an apartment purchaser and a housing authority. The mechanism is similar to that in place in section 76 with regard to the re-sale of apartments during the charge period. It should be noted that section 77(1) specifically empowers the Minister to prescribe the qualifications and experience of persons to determine the market value of an apartment within the meaning of section 75.

See this speech in context