Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Minister for his response which is along similar lines to what he said on Committee Stage. It is welcome that the Bill is going to be brought forward, presumably some time this year. I accept that there are complexities involved and that it is not straightforward, but I am sure that if there is the will - I hope there is - to deal with this issue swiftly, it can be done. When the legislation is brought forward, will it be retrospective? Will it deal with mortgages that have already been sold and are held by unregulated third parties? Will such mortgages come under the code once the legislation is passed? It is particularly important that there be such reassurance and that the legislation will not only apply to future sales.

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