Dermot Ahern (Louth, Fianna Fail)

I move amendment No. 29:

In page 65, lines 18 and 19, to delete "mortgagor, or on one of 2 or more mortgagors," and substitute "mortgagor".

On Committee Stage, Deputy Charles Flanagan queried the continued use of the term "one of 2 or more mortgagors" in sections 99 and 107. In practice, these words mean that if a mortgage is in the name of more than one person, the lending institution is required to serve notice on only one of them if the repayments are in arrears and that it is contemplating exercise of powers of sale or the appointment of a receiver. Having reflected on the point made by Deputy Flanagan proposing to drop these words, the result will be that the lending institution will be required to serve notice on all those mentioned in the mortgage when it is serving notice under sections 99 and 107.

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