Michael McNamara (Clare, Labour) | Oireachtas source

I thank the Minister for correcting the record because it was my understanding that the Bill had been dealt with in the Seanad. Nevertheless, the Minister, when on his feet, undertook to consider certain important aspects of the legislation before it is finalised. I urge him to examine these aspects, particularly the question of whether mortgages registered in Ireland could be recognised in convention countries. Ireland is not a convention country and does not plan to be. The United Kingdom is not a convention country either and, as the Minister stated during the previous Stage, many states are not. That is accurate but, nevertheless, it is important that mortgages registered in Ireland be given effect in convention countries, particularly because Spain and other such countries are convention countries. The Minister undertook to examine this and I thank him for it. I urge him to examine the matter. Obviously, the Bill will not now go to the Seanad so the only way he can proceed is to adjourn proceedings on the Bill. By doing so, he could look into this one matter and then resume and put the Bill to a final vote, if a vote is deemed necessary by the House. While we all have tabled amendments and wish to make relatively minor changes, I do not really believe there is any substantive opposition to what the Minister seeks to achieve, namely, the establishment of a central register. Generally, the objective is supported by everybody in the House, and it was probably supported in the Seanad. I urge the Minister to consider this matter before Fifth Stage and sending the legislation to the President to be signed.

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