Dáil debates

Wednesday, 7 November 2012

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage

 

5:30 pm

Photo of Stephen DonnellyStephen Donnelly (Wicklow, Independent) | Oireachtas source

I broadly welcome the various things the Minister said and appreciate that these issues will be taken up. I have one final thought on the bank account issue. The US is probably the most entrepreneurial country on earth and when one talks to people there about bankruptcy or failing in business, they view it as part of the normal business process on one's way to succeeding. When the Minister looks at the conditions of bankruptcy, will he keep on eye to the people in bankruptcy being able to start up new companies which is what happens in many cases in the US? It allows momentum for entrepreneurship as well as a bank account.

I take the Minister's points on the two years versus the three years. I did not think he would accept the amendment but I would like to re-emphasise that if the bankruptcy payment order is also kept to the three years, I fully accept what he said.

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