Michael Finneran (Roscommon-South Leitrim, Fianna Fail)

I move amendment No. 107: In page 69, line 10, to delete "authority; and" and substitute the following:

"authority, subject to any lease referred to in section 59(2)(b)(ii), and".

The transfer of ownership of a designated apartment complex by the housing authority to a management company under section 59 is specified in subsection 2(b)(ii) to be subject to any existing lease between the housing authority and the purchasers of apartments sold under section 90 of the Housing Act 1966. Section 61 sets out the steps for restoring ownership of the complex to the housing authority in the event that no apartment is sold under Part 4 within the initial selling period. The proposed amendment makes clear that this transfer of ownership is also subject to any existing leases between the housing authority and the purchasers of apartments sold under section 90 of the Housing Act 1966. The effect of the amendment is that the management company transfers back to the housing authority leases which the authority originally granted to section 90 purchasers without otherwise affecting the terms of the leases. I ask the House to support the amendment.

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