Dermot Ahern (Louth, Fianna Fail)

I move amendment No. 25:

In page 64, line 10, after "taking" to insert "not more than 7 days prior to such taking".

Amendments Nos. 25 and 30 address a concern raised on Committee Stage. In cases of default, sections 96 and 99 require a lending institution to obtain a court order before taking possession of or selling the mortgaged property unless the borrower has already given consent to repossession. A fear was expressed on Committee Stage that the consent provision might be circumvented by requiring the borrower to give such consent at the outset in the mortgage deed. To prevent any such circumvention, I propose to include a provision requiring that any consent be given within a seven day period prior to the taking of possession or a seven day period prior to exercise of the power of sale, as the case may be.

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