Debate resumed on amendment No. 1:To delete all words after "Dáil Éireann" and substitute the following:"- acknowledges that this Government inherited a severe mortgage arrears crisis; - recognises that the Government has already taken a number of significant steps to address the mortgage arrears problem; - in particular, acknowledges that the present Government established the Interdepartmental Mortgage Arrears Working Group and subsequently published the group's report in October 2011; - notes that the group's report indicated the mortgage arrears problem is complex and that a range of measures, such as personal insolvency reform, the development of mortgage-to-rent, the provision of mortgage advice, direct engagement by banks and the development of sustainable options by banks for their customers who are experiencing mortgage difficulty, need to be advanced to address the problem; - recognises that the Government has moved to implement the main recommendations of the Interdepartmental Mortgage Arrears Working Group report; and that a special Government committee, chaired by an Taoiseach, is overseeing the implementation of the measures across Government; - acknowledges that significant progress has now been made, including the fact that:-- the Personal Insolvency Act 2012 was signed into law on 26th December, 2012; -- the Insolvency Service of Ireland was formally established on 1st March, 2013; -- the Mortgage-to-Rent Scheme is now available across the country; and -- a Mortgage Advisory Function is now in place;- encourages the Government and other authorities to continue this work, in particular to enhance action by mortgage lenders to appropriately address unsustainable mortgage loans; - notes that the Government has taken steps to address a lacuna in the law arising from the High Court decision in July 2011 which created uncertainty in the law relating to the exercise by lending institutions of their repossession rights; - notes the targets set by the Central Bank requiring the main mortgage lenders to offer durable solutions to mortgage holders over 90 days in arrears; - notes that the latest Central Bank mortgage arrears and repossession statistics for end March 2013 show that there was a total stock of 79,689 principal dwelling house mortgage accounts classified as restructured and that 76 per cent of these are deemed to be meeting the terms of their restructured agreement; - acknowledges the Central Bank's initiative of the Framework for a Pilot Approach to the Co-ordinated Resolution of Multiple Debts owed by a Distressed Borrower; - notes the revision of the Central Bank's Code of Conduct on Mortgage Arrears; and - recognises that there are provisions in the Central Bank's Consumer Protection Code for Licensed Moneylenders which provide protections to consumers in relation to the debt collection activities of licensed moneylenders."- (Minister for Finance).

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