Denis Naughten (Roscommon-South Leitrim, Independent) | Oireachtas source

When the Minister of State is responding, he might address the question I have asked. Will he revert back to the original legislation?

I bring a second issue to the attention of the Minister of State on the taking-in-charge process. I refer to the drawdown of bonds where the developer is gone and the estate is incomplete. In a number of instances in my part of the country, insurance companies are not releasing the bonds. They are licensed here to operate in this jurisdiction. One, in particular, that is causing significant problems is HCC International, which will not engage with the local authorities.

It is not just the insurance companies. Bank of Ireland is very slow to engage, as is IBRC, which has stated it will not deliver on the bonds in place for developments. How can we get local authorities to finish out these estates and ensure that people can live in a habitable housing estates if pillar banks are dragging their heels, if the State-owned IBRC is not honouring bonds and if insurance companies licensed by the State and have bonds here are not willing to release those bonds to have those estates completed in line with the agreements in place?

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