Alan Shatter (Dublin South, Fine Gael) | Oireachtas source

I thank Members on all sides of the House for their very constructive engagement, which has contributed meaningfully to the development of the legislation. I thank the members of the Joint Committee on Justice, Defence Equality and its Chairman, Deputy David Stanton, for their careful deliberation on the heads of the Bill, which likewise was of substantial benefit in its development. I also thank my departmental officials for the extraordinary work they have done on this very complex measure. It is a measure that is designed and intended to provide substantial assistance to those who find themselves in major debt difficulties.

The Taoiseach was asked, quite properly, by Deputy Micheál Martin this morning about the coming into force of this legislation. I take this opportunity to comment briefly in that regard. Mr. Lorcan O'Connor has been appointed director of the new insolvency agency and a number of staff are already recruited. Remaining staff will be recruited as part of an ongoing process. It is envisaged that the guidelines to be published by the insolvency agency will be completed in the first quarter of next year. These will deal with some of the issues we have covered today such as what is meant by reasonable expenses and so on.

Regulations will be prepared with regard to the licensing of personal insolvency practitioners. Software is being put in place for the electronic exchange of information under the legislation and the delivery of information between personal insolvency practitioners, the insolvency agency and the Courts Service. It is a target of the insolvency service to have its website up and running by 1 March to provide the maximum information and guidance to the general public with regard to the mechanisms available to deal with debt resolution processes. Documentation is being prepared setting out the information applicants must provide in respect of a debt relief notice, debt settlement arrangement and personal insolvency arrangement. It will be possible for all of these data to be filled in online. It is anticipated, once the regulations have been published, that the licensing process in respect of personal insolvency practitioners will proceed during April and May.

In short, our objective is to have the measures set out in the legislation operational as soon as possible. As I said, the insolvency service intends to have its online functionality up and running as early as possible in March. If our targets are met, the insolvency service will have completed within months of the enactment of the Bill what took two years to complete in Northern Ireland and three years in the United Kingdom. I am hopeful that the maximum information will be available to the public as early as possible. My Department will do what it can to ensure it is available. In the meantime, the insolvency service has established an ongoing liaison with the Money Advice & Budgeting Service and other bodies engaged in assisting individuals with debt relief. I thank Members again for their constructive contributions and my officials for their exceptional work in putting together this comprehensive and radical piece of reforming legislation.

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