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

I move amendment No. 10:

In page 35, between lines 7 and 8, to insert the following:

"Amendment of section 9 of Act of 2012

42. Section 9(1) of the Act of 2012 is amended by the substitution of the following for paragraph (g):"(g) in accordance with section 47--

(i) authorise a person or class of persons to perform the functions of an approved intermediary,

(ii) supervise and regulate persons or classes of persons authorised to perform the functions of an approved intermediary,".".

Amendments Nos. 10 and 16 deal with approved intermediaries who will process debtor applications for debt relief notices. Amendment No. 10 provides for an amendment to section 9(1)(g) of the Personal Insolvency Act 2012 designed to address concerns that the powers of the Insolvency Service of Ireland may not be sufficiently developed in the existing provisions in regard to the ongoing supervision of approved intermediaries. The original provision effectively concentrated on the initial authorisation process only. The amendment makes it clear that the Insolvency Service of Ireland is also concerned with ongoing supervision of approved intermediaries.

Amendment No. 16 proposes amendments to section 47 in regard to the regulation of approved intermediaries. The current subsection (5) of section 47 is replaced with a new subsection to provide more coherently for the authorisation of approved intermediaries by the insolvency service. The new provisions extend beyond permitting the service to make regulations in relation to the criteria for authorisation of persons as approved intermediaries. There are now more extensive requirements in regard to qualifications of approved intermediaries.

The recasting of subsection (5) will also permit the insolvency service to make regulations, not only for authorisation but also for the supervision and regulation of approved intermediaries. This power will ensure that debtors and creditors and the integrity of the approved intermediary are protected through an effective continuing regulatory framework. The setting out of various requirements on the approved intermediary is intended to give the insolvency service more flexibility than seeking to prescribe standards or procedures.

The proposed new subsection (5A) is designed to ensure the insolvency service can monitor compliance with any regulations made pursuant to this section.

The second amendment to section 47 is essentially a drafting amendment to improve the text of the Personal Insolvency Act 2012 by relocating the current provisions of subsections (9) to (12), inclusive, of section 27 in regard to circumstances where the approved intermediary can no longer perform that function to section 47, in subsections (8) to (11), inclusive, where they would seem to be more appropriately located.

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